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Yesterday Gold does not move in a clear trend, although the actual daily chart still looks bearish. Even this morning gold is still not showing signs of movement direction, generally the trend is still bearish despite weak.
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Technical Analysis XAUUSD
GOLD: SELL
BID PRICE 1343
EXPONENTIAL MA 20 1342 NEUTRAL
EXPONENTIAL SELL MA 50 1348
EXPONENTIAL MA 100 1358 SELL
PARABOLIC SAR SELL 0.02/0.2 1359
RSI 14 27.93 SELL
MACD 12,26,9 SELL -5850
Support: 1337
Pivot: 1352
Resistance: 1366
Trend: Bearish.
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Gold bearish trend in the daily tf seems beluam ends, although in H1 tf gold already in oversold area, there is likely to be corrected rose gold today, but gold globally is still in a downtrend that has not ended.
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Technical Analysis XAUUSD
GOLD: SELL
BID PRICE 1310
EXPONENTIAL SELL MA 20 1313
EXPONENTIAL SELL MA 50 1320
EXPONENTIAL MA 100 1326 SELL
PARABOLIC SAR SELL 0.02/0.2 1329
RSI 14 25.99 SELL
MACD 12,26,9 SELL -8183
Support: 1304
Pivot: 1317
Resistance: 1330
Trend: Bearish.
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GOLD was still in the lower level is above the SHI channel and Moving averagi, giving GOLD opportunity for bullish with a target midpoint SHI channel until 1352.05 price range. But if Gold break support at 1312.29, the target was a major seller GOLD price suppoert in 1291.3
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Gold is still down though in the H1 chart, price has entered oversold. I still think gold will begin to bullish in the next few days, it's just that we have to be very clever and wait patiently for the confirmation of this hike. On the daily chart, it already looks likely bullish, but in a smaller time frame, gold still has not turned up. Wait for the right moment.
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Technical Analysis XAUUSD
GOLD: SELL
BID PRICE 1320
EXPONENTIAL SELL MA 20 1325
EXPONENTIAL SELL MA 50 1323
EXPONENTIAL MA 100 1331 SELL
PARABOLIC SAR BUY 0.02/0.2 1316
RSI 14 32.55 SELL
MACD 12,26,9 SELL -6894
Support: 1313
Pivot: 1322
Resistance: 1331
Trend: Bearish.
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GOLD fell over the line after exiting the SHI channel exit area of 1324.18. And GOLD could potentially return to this level after encountering support at 1304.92 price range. If it fails, GOLD could be back to test support moving deeper into the area in 1292 prices
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Technical Analysis XAUUSD
GOLD: SELL
BID PRICE 1314
EXPONENTIAL SELL MA 20 1319
EXPONENTIAL SELL MA 50 1323
EXPONENTIAL MA 100 1323 SELL
PARABOLIC SAR SELL 0.02/0.2 1329
RSI 14 32.56 SELL
MACD 12,26,9 SELL -2506
Support: 1312
Pivot: 1320
Resistance: 1329
Trend: Bearish.
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Downward movement of gold is increasingly weakened. Gold gradually build up strength for stronger, though if today's gold managed to close below the pivot level, is likely to fall to 1313 levels until 1309. As for bullish positions can be maintained for the long term.
Last edited by sara59852 (9/24/2013 1:47 pm)
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Technical Analysis XAUUSD
GOLD: SELL
BID PRICE 1321
EXPONENTIAL MA 20 1322 NEUTRAL
EXPONENTIAL SELL MA 50 1325
EXPONENTIAL MA 100 1333 SELL
PARABOLIC SAR BUY 0.02/0.2 1305
RSI 14 45.62 SELL
MACD 12,26,9 SELL -4116
Support: 1319
Pivot: 1324
Resistance: 1329
Trend: Bearish.