Gold (Feb 12 - MCX) ST: as long as 28493 is resistance look for 26180
Our pivot point stands at 28493.
Our preference: as long as 28493 is resistance look for 26180.
Alternative scenario: the upside breakout of 28493, would call for 29266 and 29726.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. The price is trading above its 20 day MA (27678.05) but under its 50 day MA (28390.06). Gold (Feb 12 - MCX) is currently trading near its 52 week high reached at 29433 on 08/12/11.
Supports and resistances:
29266 *
28493 **
28192
27852 last
26634
26180 **
25725 *
Our pivot point stands at 28493.
Our preference: as long as 28493 is resistance look for 26180.
Alternative scenario: the upside breakout of 28493, would call for 29266 and 29726.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. The price is trading above its 20 day MA (27678.05) but under its 50 day MA (28390.06). Gold (Feb 12 - MCX) is currently trading near its 52 week high reached at 29433 on 08/12/11.
Supports and resistances:
29266 *
28493 **
28192
27852 last
26634
26180 **
25725 *
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