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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 - Bouncing Near The Support at 1147.72

Gold has bounced near recent lows at 1147.72. The declining trend-line continues to favor a bearish bias. A key support can be found at 1132 (07/11/2014 low). Resistance stands at a distant 1200 (06/03/2015 high).

In the long-term, the break of strong resistance at 1255 (21/10/2014 high, see also the 200-day moving average) indicates an improving technical structure. However, the shape of this advance still looks like a counter-trend move within an underlying downtrend (see declining channel). A key support stands at 1132 (07/11/2014 low).

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