Gold could drop some more

[fxstrategist]

Gold is still below the 200 week EMA, but it may try to break that level to the upside, especially if risk aversion comes back into the markets.

 

[fxstrategist]

A good symmetrical triangle formation on the weekly chart of gold. The commodity may find some resistance around the 1300 level.

 

[fxstrategist]

Gold stays above the 200 week EMA, but the 1300 area may still act as resistance.

 

[fxstrategist]

Gold consolidates around the 55 day EMA on the 1244 level, from here the price may go back up towards the 1300 level.

 

[fxstrategist]

Gold has found a good support at the 1200 level, but the bearish trend is still in place.

 

[fxstrategist]

Gold keeps oscillating around the 200 period EMA on the 4 hour chart, around the 1241 level. The 1260 may act as resistance and the 1220 as support.

 

[fxstrategist]

Gold may still find a good resistance around the 1300 zone, but the bullish trend is still in place, it may try to continue higher.

 

[victoriajensen]

Gold may still find a good resistance around the 1300 zone, but the bullish trend is still in place, it may try to continue higher.

I thought the same, but 1300 provited to be a too strong a resistance to break again. Now it's back to testing the support at 1260.

 

[Anna Sergeeva]

Today is a great day for gold again! Unfortanetely I was afraid to go long at the beginning and now it became a little volatile.

 

[fxstrategist]

Gold make a good jump to the upside, but it may lose some momentum and come back down.