Gold retests 17/05/2013

Economies.com
2013-05-17 04:02AM UTC

Gold price showed some positive trading yesterday which stopped at the EMA50 that forms a resistance barrier now at 1395.00, to bounce to the downside and keeps our overall bearish overview valid.

 

Our waited targets for today begin at 1365.00 followed by 1350.00, while the chances to achieve them remain valid unless 1395.00 was breached.

 

Expected trading range for today is between: 1350.00 support and 1400.00 resistance.

 

Expected trend for today: Bearish

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