RSI has breached the value of 50.00 alongside strength in the bearish trend according to ADX reading.

Gold trades below 38.2% Fibonacci at 1136.35; therefore, the bearishness is available since SMA50 is the decisive level for the metal.

A breakout above 1147.00 will change the bearish outlook.

Support: 1130.00 – 1120.00 – 1113.00

Resistance: 1136.35 – 1147.00 – 1154.00

Direction: Bearish

Posted By: ICN.COMon: September 03, 2015In: Technical Analysis

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