XAU/USD Outlook: September, 16 2013
FinFX | Sep 16, 2013 04:59AM ET
Spot Gold remains under pressure as fresh extension lower approached the psychological 1300 support. Brief corrective action is expected to precede fresh weakness, as technicals remain negative and favor further downside, with 1350/60 zone. A fibonacci of 50% and 61.8% of 1394/1304 downleg is expected to keep the upside protected. Loss of the 1300 handle will resume pullback from 1433 and expose 1276, Fibonacci 61.8% of 1180/1433 and 1272, 07/08 higher low.
Resistance: 1334; 1340; 1350; 1360
Support: 1304; 1300; 1291; 1272
Get The News You Want
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.