Midday update for Gold 15/04/2013

Economies.com
2013-04-15 10:42AM UTC

Gold price keeps falling without a stop, and making a break below the psychological barrier 1400.00, where it is trading now around 1390.00, while the negative effect of the big double top pattern that appears in the above chart continues, which signals that there is more downside moves that target initially 1310.00 and extends further towards 1200.00

 

Now, the downside track will be preferred on the short and medium term basis, unless managing to breach above 1460.00 on the intraday basis and above 1522.50 on the medium term.

 

Expected trading range for today is between: 1355.00 support and 1460.00 resistance.

 

Expected trend for today: Bearish

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