Midday update for Gold 21/05/2013

Economies.com
2013-05-21 10:35AM UTC

Gold price found strong resistance at the morning mentioned barrier at 1400.00, bouncing lower sharply heading to test the critical support barrier at 1368.00

 

And as we mentioned in our morning report, monitoring the price behavior according to the mentioned levels is required to get clearer confirmation signals for the trend, pointing that the EMA50 and Stochastic are pushing negatively which forces the price to decline currently.

 

 

Expected trading range for today is between: 1370.00 support and 1425.00 resistance.

 

Expected trend for today: Neutral

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