Monday, September 16, 2013

Gold

for the week starting 16-Sep-2013

Gold has fallen below my psychological level and still going lower.
Looking at the weekly chart, I can only see continuation of bearish sentiment, next support $1280 (close to rookie's forecast)

Intraday chart (4H) gold is trading below EMA50, bearish.
Current support (last week low) $1304.

Resistance $1330
Intraday (1H) Gold is trading at oversold area and I hope technically Gold can rebound, I am hoping for rebound - as long as Gold does not trade below $1300, once Gold closed below $1300, $1280 is within reach in a day.

If Gold can sustain above $1304 (last week low) and continue trading higher, next could test resistance $1330 and return to $1355 level.

Cheers
Ayumi



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