Gold Weekly Technical Report 22-26/9/2014
ecPulse
2014-09-22 07:02AM UTC
The metal continued moving to the downside last week and is trading today close to the support 1211.90 and 1205.00. The referred to support will be the significant interval for the price this week, and trading below it extends the downside move.
Linear Regression Indicators are negative, MACD and AROON are showing the possibility of extending the downside move. Bullish corrections are possible, but any correction below 1240.20 keeps the possibility of breaking the support 1211.00 and 1205.00 and rush directly towards 161.8% correction at 1175.40.
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