Gold - Technical Chartanalysis 15:25 CET

15 October 2009 @ 12:16 pm EDT

The pair is correcting lower and offering us a fantastic 120 pips movement today, after it was known that India reduced the precious metal buying. The pair is now trading at 1052,68 dollars per ounce.The price found a support at the 200-day MA, also pushed by a correction to the middle band of Bollinger, after being near the lower one. The stochastic show selling signals and the RSI is clearly overbought.

Copyright 2009, Advanced Currency Markets SA, Forex Broker, All Rights Reserved

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