Gold prepares for another decline 16/05/2013
Economies.com
2013-05-16 05:32AM UTC
Gold price found solid support at yesterday’s suggested target at 1390.00, fluctuating in sideways range, which makes stochastic loses its bullish momentum gradually.
In general, resuming the bearish trend on the intraday basis is expected, supported by the EMA50, and the price might retest 1400.00 – 1410.00 before continuing the decline that its targets begin at 1365.00, while it remains valid conditioned by the stability below 1422.00
Expected trading range for today is between: 1365.00 support and 1410.00 resistance.
Expected trend for today: Bearish
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