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GOLD 27/03/2014

2014-03-27 16:42:15

The metal dropped yesterday touching levels slightly below the psychological level 1300.00. After touching the referred to level, the pair inched higher but remained limited below 38.2% correction at 1309.35 showing on graph. Therefore, the referred to psychological level is low on demand to form a bullish wave; so a break above 38.2% correction triggers further bearishness to touch 50% correction at least at 1285.15. Only breaching 1339.35 could fail the downside move, but we will depend today on stabilizing below 1323.20 to keep our negative expectations.


Support	1300.00	1296.25	1293.00	1285.15	1280.00
Resistance	1309.35	1315.00	1323.20	1330.00	1339.35
Recommendation	Based on the above, sell gold below 1305.00 targeting 1296.25, 1293.00 then 1285.00 then stop-loss above 1323.20.

Related news

Gold Pressured By Bearish Outside Markets (2016-11-01 03:50:56)
Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate (2016-07-12 17:27:51)
Direction: neutral (2016-07-01 16:54:07)
Direction: neutral (2016-06-30 15:17:32)
Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00 (2016-06-30 05:32:18)
Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00 (2016-06-28 05:40:46)
Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00 (2016-06-24 20:25:31)
Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00 (2016-06-23 19:20:37)
Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00 (2016-06-22 14:56:10)
Direction: neutral (2016-06-20 20:28:46)

TIME
Sydney	Tokyo	Ha Noi	HongKong	LonDon	NewYork

Gold Price at ABCBULLION Foreign exchange rates at CommonWealth Bank Foreign exchange rates at ANZ Bank

Prices By NTGOLD
We Sell	We Buy
37.5g ABC Luong Bar
8,379.20	7,659.20
1oz ABC Bullion Cast Bar
7,015.00	6,316.00
100g ABC Bullion Bar
22,320.90	20,320.90
1kg ABC Bullion Silver
3,652.30	3,003.30

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The process of producing gold 1) Metallurgy. 2) Metal working and check. 3) Producing.

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