• 756 days Will The ECB Continue To Hike Rates?
  • 757 days Forbes: Aramco Remains Largest Company In The Middle East
  • 758 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,158 days Could Crypto Overtake Traditional Investment?
  • 1,163 days Americans Still Quitting Jobs At Record Pace
  • 1,165 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,168 days Is The Dollar Too Strong?
  • 1,168 days Big Tech Disappoints Investors on Earnings Calls
  • 1,169 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,171 days China Is Quietly Trying To Distance Itself From Russia
  • 1,171 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,175 days Crypto Investors Won Big In 2021
  • 1,175 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,176 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,178 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,179 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,182 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,183 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,183 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,185 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

Gold: Range Break is Suggestive of Further Near-Term Downside

Gold has broken to the downside out of its trading range between 1441 (01/05/2013 low) and 1488. This now increases the probability that we can expect a continuation of weakness to retest the recent annual low at 1322. An hourly resistance can be found at 1450 (13/05/2013 high).

Gold has confirmed a weakening bias by breaking to the downside out of its long-term horizontal range defined by the support at 1523 (29/12/2011 low) and the resistance at 1803 (08/11/2011 high). The implied medium-term downside risk is 1287. A key support is at 1308 (28/01/2011 low). The recent rise is viewed as a rebound within an underlying downtrend.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment