Trading news

Where is Gold prices heading to?

On Thursday, Gold dropped significantly below the previous minimum levels at 1321.00 thus expands its big loses. As we expected before, the precious metal managed to break the support level of 1300 and continues to record a violent decrease until the metal found support at 1270.

We noticed Gold is trying cohesion above this level and then climb up to retest the 1300 forming bearish summit will be forced to retreat from the metal new targets support levels 1255 and 1220 but only exceeded the level of support for 1270. In general, trend remains bearish for gold metal based on the stability of the resistance area from 1340 until 1365.

The trading range expected for today is between: support at 1220.00 and resistance 1365.00. General tendency expected for Gold on Friday: DOWN

Friday, 21 Jun, 2013 / 10:43

Source : https://www.firstbinaryoption.com

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