Gold
Midday Report
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The metal has achieved a technical try to take the pivotal resistance areas of 1665.00 -B levels of the proposed Crab pattern- but it couldn’t despite the positivity of trend and momentum indicators over daily studies. On the contrary, Stochastic over four-hour time scale has overlapped negatively as we expected this morning while a potential bearish classical pattern is looking for a level to be completely formed. Since we depended on the daily chart, we will continue watching the price behaviors awaiting the closing below or above 1665.00.
The trading range for today is among the key support at 1607.00 and key resistance now at 1703.00.
The general trend over the short term basis is to the upside targeting 1945.00 per ounce as far as areas of1475.00 remain intact with weekly closing.
| Support | 1655.00 | 1650.00 | 1645.00 | 1635.00 | 1628.00 |
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| Resistance | 1669.00 | 1673.00 | 1687.00 | 1695.00 | 1703.00 |
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| Recommendation | Based on the charts and explanations above our opinion is, staying aside as risk versus reward ratio is too high today. | ||||
| TIME | |||||
|---|---|---|---|---|---|
| Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
| Prices By NTGOLD | ||
|---|---|---|
| We Sell | We Buy | |
| 37.5g ABC Luong Bar | ||
| 5,333.50 | 4,913.50 | |
| 1oz ABC Bullion Cast Bar | ||
| 4,426.80 | 4,026.80 | |
| 100g ABC Bullion Bar | ||
| 14,205.60 | 12,905.60 | |
| 1kg ABC Bullion Silver | ||
| 1,728.40 | 1,378.40 | |
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