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Friday, 3 August 2012

2012.08.03 07:11:32 GOLD (Spot) intraday: the downside prevails.

GOLD (Spot) intraday: the downside prevails.

Update on supports and resistances.
Pivot: 1600.00

Our Preference: SHORT positions below 1600 with 1584 & 1579 as next targets.

Alternative scenario: The upside penetration of 1600 will call for 1607 & 1611.

Comment: technically, the RSI is below its neutrality area at 50.

Trend: ST Range; MT Range

Key levels Comment

1611** Intraday resistance
1607** Intraday resistance
1600** Intraday pivot point
1589.3 Last
1584** Intraday support
1579** Intraday support
1570** Intraday support


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