Tuesday, September 17, 2013

GOLD‏ (Spot) intraday: key ST resistance at 1322

Pivot: 1322.00

Our preference: SHORT positions below 1322 with 1305 & 1297 in sight.

Alternative scenario: The upside breakout of 1322 will open the way to 1334 & 1343.

Comment: Gold prices are capped by a declining trend line and the 50 moving average. A break below 1305 would have strong bearish implications.
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