RSI becomes more negative, while ADX hints at further correction. Meanwhile, gold is facing SMA2, attempting to breach it to prove extending the bearish correction.

We see chances for achieving further downside actions with stability below 1154.65, aiming to test 1125.00 and 1120.00-1113.00 zones.

Areas of 1154.65 should hold to protect the bearish scenario.

Support: 1130.00 – 1125.00 – 1120.00

Resistance: 1136.00 – 1140.00 – 1154.65

Direction: Bearish correction

Posted By: ICN.COMon: August 26, 2015In: Technical Analysis

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