Gold Morning Technical Report 24/7/2014
ecPulse
2014-07-24 07:12AM UTC
The metal dropped during the Asian trading session today and is trading below the psychological barrier 1305.00 now. The price is currently facing the support 1296.60 and breaking it could extend the downside move. The metal should break 1292.65 to keep the negative possibility valid for today.
Levels 1292.65 represents 50% correction and breaking it indicates the possibility of a downside move to touch 1280.25 passing by the support 1285.15. AROON is showing the bearish strength and MACD signal lines are stable below line zero stregnthening the negative expectations.
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