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Fundamental Reports
Fundamental analysis for precious metals gold - 11/19/2008
19 Nov, 2008 @ 03:21 am ET
Very narrow consolidation and several attempts to breach the resistance level that has shifted today to 744.35 where the metal failed to close below the 50% correction level in the above image on the four hour charts. The relative strength indicator is very neutral while the ADX indicator is showing very weak movements in both the upside and downside directions on the short term. As for the stochastic indicator it is currently being affected by the low volume trading!
The trading range for today is among the key support at 678.25 and the key resistance at 783.20.
The general trend is to the downside as far as 934.00 remains intact with targets at 649.20 and 615.60.
| Support | 734.20 | 726.45 | 722.20 | 720.70 | 716.20 |
| Resistance | 742.20 | 744.35 | 757.20 | 769.05 | 777.50 |
Recommendation | ... | ||||
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