Gold Dropped Touching Levels Around 1226.60
ICN.com | Sep 15, 2014 04:04AM ET
The metal dropped touching levels around 1226.60 with the beginning of the week, which represent a significant technical target showing above represented in 113% correction. The referred to level is considered an interval for the price this week and will determine whether the metal will correct to the upside or continue with its downside move.
Technical indicators are showing the negative extension, whereas AROON is showing the bearish strength and MACD is negative. Linear Regression Indicators are covering the price from the upside forcing us to think there is a possibility of extending the downside move this week. Bullish corrections are possible, but trading below 1252.20 strengthens the bearish possibility.
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