Bullion Weekly Technicals 30 September 2013 |
|
We continue to believe that the medium term downtrend remains intact and will do so while no daily chart close above the September 19 high at 1375.37 is being made.
The September low at 1291.59 and the 1272.56 August low remain in focus.
Failure at 1272.56 will confirm that gold has resumed its medium term downtrend.
In such a scenario the 1200/1100 region will be back in the picture.
Only an unexpected rise above the 1434.05 August peak would void this forecast and target resistance at 1487.62/1488.17 instead. A first sign of this scenario becoming likely would be a daily close above the September 19 high at 1375.37.
To know more click here 
ACI OPERATIONS
CERTIFICATE TRAINING
ACI DEALING CERTIFICATE TRAINING
