16 sept 2013
RANGE Level 1
2
S2
1293.75
Neutral Short
CORNER ANALYSIS
1315.50 - 1340.00
S1
1309.20
Support
1300.00 1275.00
Pivot Point
1320.05
Medium
Bullish
Resistance
1360.00
1380.00
R1 R2
1335.50 1346.35
Long
Bearish
End the last week gold has continued despite pressure finally closed marginally higher. This case illustrates the possibility of a negative atmosphere will affect the relative price movements in this week and in the midst of the daily volatility above moderate. Break-low are also increasingly providing suggestions gold has lost confidence, and indeed needs to be addressed more carefully. A number of relatively less fundamental support to the strengthening of gold, including the easing of political tensions in Syria and the tapering issue ahead of Fed meeting them this week. Support who will escort the gold price is expected to 1300s levels.
INDICATOR
STOCH (14)
RSI (14)
VALUE
↑ 12 ↑ 40
MACD (9) ↓ 1
At the end of August, gold rose to its highest level in over 3 months $ 1430 on fears of Western countries led by the United States would launch a military attack against Syria. Since then, gold prices have slipped nearly 8 percent.
On Friday, Russia and the United States agreed to negotiate an end to the civil war back to Syria when they were discussing a plan to destroy the chemical weapons of President Bashar al - Assad in order to prevent a U.S. air strike.
Gold fell nearly 5 percent this week, the biggest weekly since the week is June 28th. U.S. gold futures for December fell $ 22 at $ 1,308.60 per ounce. Although an active trade in the past two sessions, but the volume is only 10 percent above the average 30 - day.
On Thursday, gold eroded by 3.5 percent after a drop in prices in the futures market suddenly erode investor confidence. Gold prices also penetrates below the moving average 100 - day and 50-day at the previous session.
U.S. data showed consumer confidence downs earlier this month and retail sales edged up in Agustu, is the latest indication of the lack of momentum in the economy. Another report on Friday showed wholesale prices rose last month due to a surge of energy but inflation was still under control
PAR SAR (9)
↓ ↓ 1398.00 1381.46 1337.04 ↓