Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Gold: Indicators Still Showing Negative Bias

Published 09/03/2014, 06:39 AM
Updated 07/09/2023, 06:31 AM

Gold Daily Chart

The metal dropped touching the suggested target 1262.65 that represent the possibility of forming a positive bullish formation that could be the bullish harmonic Bat Pattern later, or perhaps Gartly Pattern but won't be ideal. Therefore, 1262.65 and 1252.15 are key levels to achieve or fail the technical formation.

Technical indicators are still showing a negative bias and not confirming the end of the downside move, as we need to monitor the price at these levels and we could risk to buy the metal later close to 1252.15 levels. We will currently remain neutral waiting for confirmation signals or approaching 1252.15 where Risk/Reward Ratios would be appropriate.

Support Resistance & Recommendation

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.