Gold MT: watch 1265. Pivot: 1488. Our Preference: Bearish - TopicsExpress

Gold MT: watch 1265. Pivot: 1488. Our Preference: Bearish below 1488 with targets @ 1265 & 1150 in extension. Alternative scenario: An upside breakout of 1488 would open the way towards 1550. Comment: the descending 50-day moving average suggests that gold prices still have potential for a decline. Trend: ST Bearish; MT Bearish, we have been bearish since 21 DEC 2012 (1667). Key levels Comment 1620 Horizontal resistance 1550 Horizontal resistance 1488 Pivot point 1284 Last 1265 Horizontal support 1150 Fib retracement (61.8%) 1050 Horizontal support

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