6 Oct 2014
Gold reaches 1180 support area
FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov points out that gold fell off the support level 1200 has reached the 1180 area.
Key quotes
"This area has bounced the price to the upside two times in 2013."
"I think that breaking below this support will extend at least to 1110 till the end of 2014, and maybe a lot more in 2015."
"After reaching 1182 recently the metal will try to gain power by any pullback to 1200 and then will dive deeper again."
"Indicators are bearish but with some recovery signs."
Key quotes
"This area has bounced the price to the upside two times in 2013."
"I think that breaking below this support will extend at least to 1110 till the end of 2014, and maybe a lot more in 2015."
"After reaching 1182 recently the metal will try to gain power by any pullback to 1200 and then will dive deeper again."
"Indicators are bearish but with some recovery signs."