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MIG Bank

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 - Short-Term Downside Momentum Continues

Gold is now consolidating and remains in a range between hourly support at 1157 (19/03/2015 low) and hourly resistance at 1188 (23/06/2015). However, the pair is setting lower highs. We remain bearish over the next few weeks.

In the long-term, the underlying downtrend (see declining channel) continues to favour a bearish bias. Although the key support at 1132 (07/11/2014 low) has held thus far, a break of the resistance at 1223 is needed to suggest something more than a temporary rebound. A major support can be found at 1045 (05/02/2010 low).

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