Monday, June 22, 2015

Gold at major resistance

The daily chart shows that Gold is faced with its greatest resistance since May 13 when it made the last high touching the resistance line and then falling back below it. 

Technically Gold is expected to continue its main trend down and here are the indicators to support it: On Daily, price is below 200SMA, meaning the trend is still bearish, if the yellow metal close the day below $1,200 it would be below the 0.618 Fibbo, and the latest uptrend support line starting from $1,143 was already breached a few days ago, and of course, price is at the key psychological level of $1,200.


Chart: D1

Posted by at
Labels: , , , , , , , ,

7 comments:

  1. UnknownJune 22, 2015 at 2:39 PM

    Good point! I´ll be watching to those levels.

    ReplyDelete
  2. UnknownJune 22, 2015 at 8:02 PM

    Thank you for the analysis, I will keep it in mind!

    ReplyDelete
  3. AnonymousJune 23, 2015 at 10:13 AM

    Great assessment. I'll keep a close eye on it.

    ReplyDelete
  4. UnknownJune 23, 2015 at 1:28 PM

    Well spotted, will have it in mind!

    ReplyDelete
  5. UnknownJune 25, 2015 at 2:27 AM

    Good reporting, excellent.

    ReplyDelete
  6. bewayopaJune 28, 2015 at 12:55 AM

    Congratulations for the article, very interesting and useful

    ReplyDelete
  7. UnknownJune 28, 2015 at 11:49 PM

    Excellent assessment.

    ReplyDelete

Subscribe to: Post Comments (Atom)