Gold was badly hit yesterday largely in reaction to a rebound in the US dollar and in line with the whole commodities spectrum as funds were liquidating at the end of the month across the board. A weak US consumer confidence has been interpreted as less inflationary triggering a flight to quality, but in the greenback thus hurting gold. Consequently the yellow metal dropped below the short term moving averages settling $10.12 down at $928.85/oz.
The short term trend is bearish, the medium term trend is sideways while the long term trend is bullish.
Support: $922.60 (yesterday's low)
Resistance: $961.87 (high of 11/06/09)
Support: $917.85 (low of 22/06/09)
Resistance: $958.20 (high of 12/06/09)
Support: $912.70 (low of 23/06/09)
Resistance: $944.90 (yesterday's high)
9 day moving average - $931.90
14 day moving average - $933.11
40 day moving average - $941.80
Passionate and light sensual kiss all over you
11 years ago
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