The gold market is trading at a pressure of several key factors. First, the return of investors' risk appetite. Second, strong US data indicating the power economy. Thirdly, speculation about interest rate increase American control until the end of 2016.
At yesterday's auction the price of gold fell by about 0.99%. Quotes broke through the level of 1330, but by the end of trading returned to him. Resistance is located at 1330 support - 1300.
MACD is in the negative area, histogram grew, indicating the weakening of sellers. Oscillator RSI rebounded from oversold area. Signal line oscillator is directed upwards, that speaks in favor of shopping.
The price has broken the EMA-50 on 4-hour chart, moved lower and bounced off the 100-EMA. 50-EMA, 100 and 200-EMA-EMA downwards.
Forecast Gold gold today
In the case of continued decline in gold prices and overcome the level of 1316 Target for further downward movement is set for 1300.
Based on materials from Fort Financial Services