Gold has rebounded from the lower levels and saved its 6-month low. It arrested at strong resistance level of $1,255. Unwinding of the stimulus program in this month is a big problem for gold in coming months. Gold prices has turned again into a bearish note. Recent data on the streets gave a strong recovery in the US economy and global growth as well. Us dollar rallied stronger after world bank raise its global growth predict.
In the daily charts, oscillators showing a sell signal. Prices holding above 21EMA at the level $1,233. We can assume this month’s high can be printed at the level of $1,255 or max $1,268. We are recommending to sell gold for the targets of $1,150 $1,110.
Resistance $1,255, В $1,268.
Support В $1,233, В $1,220, В $1,211.
The material has been provided by InstaForex Company – www.instaforex.com
Gold has rebounded from the lower levels and
saved its 6-month low. It arrested at strong resistance level of $1,255. Unwinding
of the stimulus program in this month is a big problem for gold in coming
months. Gold prices has turned again into a bearish note. Recent data
on the streets gave a strong recovery in the US economy and global growth as
well. Us dollar rallied stronger after world bank raise its global growth
predict.
In the daily charts, oscillators showing a
sell signal. Prices holding above 21EMA at the level $1,233. We can assume this
month’s high can be printed at the level of $1,255 or max $1,268. We are
recommending to sell gold for the targets of $1,150 $1,110.
Resistance $1,255, В $1,268.
Support В $1,233, В $1,220, В $1,211.
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