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13 Jun 2016 pukul 05.19

Gold – Corrective move likely 

GOLD / U.S. DOLLARICE

Huraian

Support - $1268, $1263, $1253

Resistance - $1284, $1295, $1303

  • Gold’s four day winning streak has been accompanied by falling tops formation on the hourly RSI, indicating bearish divergence.

  • Thus, a break below Asian session low of $1272 followed by a violation at immediate support of $1268 would open doors for a corrective move down to $1263.

  • On the higher side, $1284 stands as a strong resistance, which could be put to test if prices rebound from $1263 levels.

  • Overall, dips could see fresh demand as long as prices do not see a day end closing below $1263 levels.


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