Gold Morning Technical Report 21/8/2014
ecPulse
2014-08-21 09:41AM UTC
The metal dropped yesterday and is trading below 78.6% correction at 1289.15 - 1289.20, and trading below these levels is negative and could lead to further bearishness to test between 1268.60 and 1253.90.
AROON is showing the bearish strength and MACD signal lines are trading again in a downside move despite that its histograms are small. Linear Regression Indicators forms resistances around 1296.30, so the negative expectations require stability below the referred to level at 61.8% correction.
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