Gold, May 23

Posted By: ICN.COMon: May 23, 2016In: Technical Analysis

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						Gold inclined after finding support at SMA50 around 1247.00, but it remains limited below 61.8% Fibonacci at 1260.00, which is negative catalyst over intraday basis.

RSI moves bearishly below the value of 50.00, while ADX is moving to the downside. As far as 1247.00 hold, we will be bearish, while coming above 1260.00 will give us a rational reason for concern.

Support: : 1247.00 – 1235.00 – 1227.00

Resistance: 1260.00 – 1272.00 – 1271.00

Direction: Bearish

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TIME
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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
4,555.50	4,225.50
1oz ABC Bullion Cast Bar
3,790.60	3,470.60
100g ABC Bullion Bar
12,094.40	11,164.40
1kg ABC Bullion Silver
1,524.10	1,174.10