Gold: Stabile Trading Below The SMA Just 20
ICN.com | Jun 23, 2016 04:50AM ET
Stabile trading below the SMA just 20, and around 1263.00 – 1264.00 price will be the proof for the down trend extension for gold price today.
Although the price trading below 1281.00 could be considered negative, but we prefer to see trading below 1263.00 price to keep the bearish opportunity better. From the bottom, 1251.00 will be the next key support level. RSI is negative, moreover, ADX index shows trend change chance, and these conditions supportive for negativity as long as gold price trading settled below 1263.00.
- Support:1251.00 – 1239.00 – 1220.00
- Resistance: 1270.00 – 1281.00 – 1292.00
Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00
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