Gold has declined towards 1100.00 psychological, but it retraced slightly. The bearishness remains available due to negativity on ADX and moving averages.

Trading below 1113.00 is a negative factor and would bring a re-test of 78.6% at 1097.00. We may witness some kind of fluctuation to relieve momentum RSI indicator.

Support: 1100.00 – 1096.00 – 1087.00

Resistance: 1113.00 – 1120.00 – 1125.00

Direction: Bearish

Posted By: ICN.COMon: September 10, 2015In: Technical Analysis

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