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Gold - European Session

Published 09/25/2014, 12:14 AM
Updated 07/09/2023, 06:31 AM

Gold Chart

By examening the four-hour graph, we notice that the price is trading within a descending channel and below Linear Regression Indicators. RSI and MACD are showing negative signals supporting the possibility of extending the downside move. On the other hand, the price is trading close to the significant 1211.90 (level description in the previous report), which is an important interval for today and breaking it is required to confirm extending bearishness.

Trading below 1226.60 keeps negativity valid today after the metal failed to keep the gains achieved on tuesday despite keeping them for a while yesterday when it moved slightly to the upside.

Wait for updates with the beginning of the U.S. trading session as we await the Durable goods data (click here).

Support Resistance & Recommendation

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