By NIAL FULLER Gold has broken decisively below the near-term support at $1320.00 that we discussed in this week’s weekly forex chart analysis. Bearish momentum as clearly taken hold in this market now, as reflected by the 8 and 21 day EMAs recently crossing lower. We can watch for price action sell signals in the near-term on retraces back to that EMA resistance layer. The next major support levels are not seen until down near $1270.00 and further below near $1180.00 area.
Posted on: Tue, 25 Mar 2014 22:42:38 +0000