Gold is currently trading at $1,253 and as it appears it is now at first support level and if it gets taken over by the bears we might see an attempt to go for $1,230 as a second level of support.
Chart: XAU/USD D1
Thursday, May 19, 2016
Gold Lower
Gold is trading significantly lower after the FOMC Minutes were released yesterday. Traders and investors boosted the US dollar and discarded the latest gains in the precious metal causing it to drop with more than 2% going from $1,282 to $1,252.
Gold is currently trading at $1,253 and as it appears it is now at first support level and if it gets taken over by the bears we might see an attempt to go for $1,230 as a second level of support.
Chart: XAU/USD D1
Gold is currently trading at $1,253 and as it appears it is now at first support level and if it gets taken over by the bears we might see an attempt to go for $1,230 as a second level of support.
Chart: XAU/USD D1
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It looks like it will continue falling.
ReplyDeleteStrong decline!
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteIt found some support at 1243.
ReplyDeleteGreat analysis, thank you for sharing!
ReplyDeleteThank you for the analysis very helpful.
ReplyDeleteValuable information! Thanks.
ReplyDeleteI agree with your analysis.
ReplyDeleteGood reporting, excellent.
ReplyDelete