A break below the support line at $1176 would open the path to $1163. On the other hand, a break above $1186 would retest resistance at the key psychological level of $1200.
Chart: XAUUSD H1
Monday, June 15, 2015
Gold consolidating
Gold prices are currently trading right below the 200SMA on H1, thus making it a bearish trend and creating the expectation of a further decline for the precious metal. Although Gold is currently trading in the range of $1176-$1186/oz the overall market sentiment stays bearish for the near-term.
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Excellent analysis! Thank you for this information!
ReplyDeleteThank you for the analysis, I will keep it in mind!
ReplyDeleteI agree with your analysis.
ReplyDeleteStill consolidating.
ReplyDeletenice chart.
ReplyDeleteIntersting analysis.
ReplyDeleteGreat analysis.
ReplyDelete