Mon, Sep 1, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Precious metals outlook turns clouded

Posted on 26 May 2011

Gold prices have taken out resistance at $1519.55, the 50% Fibonacci retracement of the drop from the May 2 high. From here, the bulls aim to challenge resistance at the 5/11 high ($1526.60), a barrier reinforced by the 61.8% Fib at $1533.12.
Broadly speaking, anything shy of a daily close above the latter threshold keeps the overall structure of the ascending triangle carved out over the past three weeks intact, pointing to bearish continuation. If a bullish breakout does materialize however, the 76.4% Fib at $1549.91 will stand as the last barrier before a run at the 5/2 swing high at $1577.05………………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

 Article link

This post was written by:

VRS - who has written 36706 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

September 2014
S M T W T F S
« Aug    
 123456
78910111213
14151617181920
21222324252627
282930