February 19, 2017

  • First chart shows previous resistance acting as support for gold. So this are will act as crucial support for Gold going forward.
  • Price is turning down from 1245 levels which is the recent swing high will act as next resistance zone.
  • As price is turning down a bearish trade is possible below 50 period SMA. Staying below this level the targets are 1218 and 1227


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore