Midday update for Gold 13/02/2015
Gold price trades with slight bearish bias now to approach from the previously breached resistance line of the intraday bearish channel, to keep the bearish trend overview valid efficiently for today, reminding you with the main waited target at 1200.00.
Holding below 1252.00 and 1264.00 levels represents the main condition to continue the suggested decline.
Expected trading range for today is between: 1200.00 support and 1238.30 resistance.
Expected trend for today: Bearish
---------- Post added at 06:55 PM ---------- Previous post was at 03:14 PM ----------
GOLD TECHNICAL ANALYSIS Prices are testing support at 1218.80, the 50% Fibonacci retracement, with a break below that on a daily closing basis exposing the intersection of rising trend line support and the 61.8% level at 1197.86. Alternatively, a reversal above the 38.2% Fib at 1239.73 aims for the October 21 high at 1255.20.


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