Gold finished slightly lower as market participants booked some profits in reaction to previous sessions rally. Despite losing $2.27 to settle at $936.50/oz the move was largely interpreted as consolidation with the market searching for the next direction. Technically the 40 day moving average provided good resistance level just like the day before with gold showing an 'inside day' pattern ( lower high and higher low).
The short term trend is bearish, the medium term trend is sideways while the long term trend is bullish.
Support: $932.40 (yesterday's low)
Resistance: $948.22 (high of 26/06/09)
Support: $924.05 (low of 15/07/09)
Resistance: $946.60 (high of 01/07/09)
Support: $917.25 (low of 14/07/09)
Resistance: $939.90 (yesterday's high)
9 day moving average - $923.51
14 day moving average - $926.44
40 day moving average - $941.11
Passionate and light sensual kiss all over you
11 years ago
No comments:
Post a Comment