Forum Post: Gold dropped slightly, support line is yet to be tested.(gold jinyu)
Posted 10 years ago on Oct. 15, 2014, 5:10 a.m. EST by goldhj
(7)
This content is user submitted and not an official statement
International gold price dropt from a high point, once climbed to about 1238 and pressed by oversell and went downside, yet the decline ratio is limited. In today’s Asia trading gold keeps correcting, broke 1230 and based around 1227. Euro zone economic data continues to point toward a slowdown. the concern of Insufficient demand for crude oil lead oil price’s tumbling, USDX seized the opportunity and climbed to about 86, gold on the other hand, started correcting. Currently gold daily chart made a shade line and started correcting around 1230. MACD red bar went smoothly and made price volatilize. short positions when price touched the resistant line during intraday trading would be a good choice.
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