Gold moved lower in early trading following a higher US dollar after US retail sales data came in marginally below expectations. However with the gains in the greenback being relatively mild initially, the direction in the yellow metal remained uncertain and later on a falling dollar has pushed gold into positive territory settling $3.33 higher at $956.85/oz. So the consolidation in gold continued albeit a choppy trading session and important to point out is the imminent cross between the 9 and 14 day moving averages.
The short and long term trends are bullish while medium term trend is sideways.
Support: $942.45 (yesterday's low)
Resistance: $989.95 (high of 03/05/09)
Support: $935.55 (low of 21/05/09)
Resistance: $980.17 (high of 29/05/09)
Support: $924.75 (low of 20/05/09)
Resistance: $961.87 (yesterday's high)
9 day moving average - $961.74
14 day moving average - $962.04
40 day moving average - $930.26
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11 years ago
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