Gold: Any Trading Below 1219.40 Still Supports Downside Move
ICN.com | Feb 24, 2015 05:57AM ET
After hitting minor-resistance level at 1190.00, gold prices edged higher and now trade around the 61.8% correction level, which is at 1198.65.
If gold prices sustain trading below the 1198.65 level, the downside direction would remain valid, and we also believe that any trading below 1219.40 still supports the downside move.
Note that the MACD and all Linear Regression Indicators are negative, which also support our argument.
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