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MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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Gold: Making New Lows

Gold has broken its support at 1226, making fresh new lows and confirming an underlying bearish trend. Hourly resistances stand at 1240 (intraday high) and 1258 (26/11/2013 high). A support now lies at 1209.

In the longer term, we continue to view the rise from 1181 (28/06/2013 low) as a counter-trend move within an underlying bearish trend. Therefore we favour a minimum move towards the key support at 1181. A key resistance stands at 1434 (28/08/2013 high).

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