Gold - Daily technical Analysis 14:30 (CET)

23 November 2009 @ 11:17 am EDT

The pair is still on a sideways trend, trading at 1164.03 dollars per ounce, right now. The bands of Bollinger are narrow, hinting low volatility, while the RSI is clearly oversold.

If we observe the CCI and Stochastic, both indicators show selling signs.

If the trend is to the upside, the next target is at 1168, while the support to watch is at 1162 (200-day MA).

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

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