Short Term trend: Bearish
Intraday Bias: Bearsih
Gold has been trapped within a very narrow range this week and seems that the market is preparing for a huge move over upcoming sessions. RSI 14 remains stable below the value of 50.00, suggesting potential downside movements. A break below 1466.00-FE 38.2%- of the above seen wave to confirm our bearish scenario. On the upside, only a break above 1425.00 will negate.
** Short term (Less than three months)
** Chart is based on GMT+2 timing
Notes:
*if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore. | |||||
| Support | 1380.00 | 1373.00 | 1366.00 | 1363.00 | 1360.00 |
| Resistance | 1395.00 | 1400.00 | 1414.00 | 1425.00 | 1437.00 |
| Recommendation | Based on the chart and explanations above, sell gold below 1400.00 targeting 1330.00 and stop loss above 1425.00 could be appropriate | ||||
Jun 14, 2013
14.06.13
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment