UK Gold Trading Experts
  • Home
  • Trade Like a Pro
  • Gold Blog
  • Subscriber Resources
  • Legal Stuff
    • User Agreement
  • Contact Us

Gold Market Update - 18th Mar

18/3/2014

0 Comments

 
Trade Gold Online Trader
Gold found resistance at the 65 week moving average yesterday, exactly where we advised our subscribers that gold would reverse.  After touching 1391, gold fell over $30 as profit taking came in, with the price falling back as far as the 200 hour moving average at 1358 this morning.

We expect this level to provide solid support for gold and a move back up to retest the weekly highs is, in our view, likely.  However, the lack of economic news this week could see a period of consolidation below the highs.

The dollar remains weak, oil has tumbled following the simmering down of tensions in Ukraine and equities have not sold off significantly as of yet.

Support can be found at 1358-1360, 1354, 1350, 1340, 1330-1332, 1322, 1312-1315, 1307, 1295-1300 and 1280.

Resistance  can be found at 1370-1373, 1380, 1388-1391, 1395-1400, 1420 and 1435.  The breakout above 1300 suggests an end to the intermediate term down trend and that a  significant rally is now developing.

Today's video for subscribers looks at the recent trading in more detail and some possible Elliot Wave scenarios.

0 Comments



Leave a Reply.

    Old Posts

    August 2021
    July 2021
    June 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    March 2019
    January 2019
    December 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    July 2016
    March 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011

UK Gold Trading Experts (UKGTE) is a trading name of Drupac Limited, a company registered in England and Wales (company number 09167819) whose registered office is 1 St. Paul's Square, Birmingham, B3 1QU.