GOLD: Vulnerable Below Declining Trendline
By Mohammed Isah | February 11, 2013 9:29 AM EST
GOLD: The commodity remains biased to the downside below its declining trendline (red). This suggests further declines towards its December 2012 low at 1,625 level followed by the 1,600.00 level, its key psycho level. We expect a price hesitation to occur here if tested but if broken we could see further weakness towards the 1,582.10 level. On the upside, resistance resides at the 1,694 level where a violation will call for a run at the 1,730 level and then the 1,750 level. All in all, GOLD remains vulnerable despite recovery attempts.
Most Popular Slideshows
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- Gennady Golovkin Next Fight Options: Canelo Alvarez, Miguel Cotto Or Julio Cesar Chavez Jr.
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- ASUS Releases A Teaser Indicating The Arrival of New Zenfone and ZenWatch On October 28
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- Three Dual SIM Samsung Galaxy Note 4 Duos Variants Comes To China
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- ‘Lone Wolf’ Attack on Canada Parliament Hill Could be ISIS-Related
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’
- Android Lollipop 5.0 Confirmed for Nov 3 Rollout as Nexus 6 Global Release Date is Delayed – Reports