Monday, June 10, 2013, GOLD Technical Analysis; Now GOLD Rate: - TopicsExpress



          

Monday, June 10, 2013, GOLD Technical Analysis; Now GOLD Rate: 1385.00 GOLD - Weekly Report Short Term trend: Bearish Weekly Bias: Bearish The consecutive attempts to breach the initial resistance around 1423.00-1424.00 regions have failed again assisting bears to draw a long black candlestick pattern on Friday as seen on the provided daily chart. Negative pressures from SMA 20 and SMA 50 may send the yellow metal lower this week; noting that a break below 1366.00 will bring panic sell-off actions mainly targeting 1330.00 boundaries followed by 1273.00. Ultimately, the upside momentum decreased as seen on RSI 14 reinforcing our constructive bearish overview.
Posted on: Mon, 10 Jun 2013 12:42:42 +0000

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