May 19, 2013

GOLD Weekend update

  • Gold bears extending gains below 200 Week SMA. Crucial support at 1321 if gets tested price could fall towards 1250 levels as shown in the second chart with Weekly range.
  • For gold bulls 1321 should be held to avoid another fall. 
  • Hourly chart is trending down below the cloud. Possible reversal of the trend will be possible only if price starts to trade above the cloud.