Gold - European Session
ICN.com | Sep 12, 2014 05:02AM ET
The metal dropped yesterday and is trading below the previous bottom 1240.22. Stability below the referred to level strengthens the bearish possibilities towards the awaited target 1226.60 represented in 113% correction. A break below the latter extends the downside move towards 127.2% correction at 1211.90.
Linear Regression Indicators are negative and AROON is extending bearishness. MACD is negative supporting the possibility of extending the downside move. Stochastic is showing oversold signals, and the pair should not breach 1262.65 to keep the bearish possibility; but intraday today, we depend on stabilizing below 1252.20 to keep our negative expectations.
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