Gold – Weakening within its horizontal range

Gold – Weakening within its horizontal range

From migbank.com

Gold has broken the support at 1654 (11/01/2013 low), which opens the way for a test of the low of its horizontal range between 1626 (04/01/2013 low) and 1696 (17/01/2013 high). Hourly resistance can be found at 1656 (intraday low). • Gold is in a secular uptrend with strong support at 1523. Monitor the strong resistance area between 1791 and 1803

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Post #1
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Feb 12, 2013 8:05am Feb 12, 2013 8:05am

ukagencies
| Joined Oct 2012 | Status: Junior Member | 4 Comments

From high of 1920 $ gold is in secular downtrend our target is 1530 1460 1380 $ soon

Post #2
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Feb 12, 2013 8:18am Feb 12, 2013 8:18am

Guest
| IP XXX.XXX.123.213

Yes, i agree gold has broken the support at 1654, now my point of view is, if gold closed above 1658 then again gold touch upper area 1690/95, but for uptrend, gold must have to closed above 1701, now gold has break the 1654/52 support, now open the way down for gold test 1618, 1602 and 1588

Post #3
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Feb 17, 2013 12:55pm Feb 17, 2013 12:55pm

pareshdxb
| Joined Oct 2009 | Status: Member | 5 Comments

i feel that gold will rebound from 1590

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Posted: Feb 12, 2013 7:43am
Submitted by:
migbank

Category: Technical Analysis

Comments: 3 / Views: 2,118