Gold Intraday Analysis 13 May 2013

May 13, 2013 5:26 pmComments Off on Gold Intraday Analysis 13 May 2013Views: 16

Downside Prevails

Our Pivot:1450

Our Preference: Short positions below 1450 with profit target at 1418 and 1405.

Alternative Scenario: Upward Penetration of 1450 will call for 1463 and 1478.

NOTE: Gold prices are under pressure and moving downward after fullfilling 61% correction at 1488, Daily Stochastic and MACD along with major moving averages are indicating for a further downward move.

Daily Chart with Support and Resistances:

GOLD 13052013

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