Gold breaks critical support levels 15/04/2013
Economies.com
2013-04-15 05:33AM UTC
Gold price continued suffering strong losses achieving a break below the most sensitive support at 1522.50, which represents a neckline for double top pattern that confirms the turn of the short and medium term trend towards the downside.
Therefore, the bearish trend will be expected, and more falling is suggested towards further targets that surpass 1400.00 reaching towards 1310.00 in the upcoming periods, being aware that breaching above 1455.00 will provide an attempt to retest initially 1522.50
Expected trading range for today is between: 1410.00 support and 1460.00 resistance.
Expected trend for today: Bearish
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