UK Gold Trading Experts
  • Home
  • Our Products
    • Trade Like a Pro
    • FREE Trading Alerts
  • Gold Blog
  • Subscriber Resources
  • Legal Stuff
    • User Agreement
  • Contact Us
    • Affiliate Sign-up

Gold Market Update - 14th Jul

14/7/2014

2 Comments

 
Gold has reversed sharply after breaking through resistance at 1333 last week, suggesting that the breakout was a fake move and significantly increasing the likelihood of another failure to break the 65 week MA.

This would be a very bearish development, just as a successful break above the 65 week MA would be viewed as extremely bullish.  If the bulls cannot make a stand here and recapture 1333 very shortly, the bearish scenario becomes our favoured outcome.

Equities are up mildly and the dollar is flat, as is oil - we can therefore conclude that the sell off in gold is not being driven by outside markets.

Support can be found at 1300-1301, 1289, 1285, 1263, 1257-1260, 1250-1252, 1237-1240, 1220-1225, 1210, 1200 and 1180.  A break of 1180 would have serious bearish implications for gold and suggest a decline to 1000-1050 in the short term - however the break below 1250 seems to have been invalidated, indicating that a return to 1180 is now less likely.

Resistance can be found at 1310, 1318-1322, 1325-1326, 1333-1335, 1340-1342, 1352-1354, 1392-1395, 1400, 1420 and 1435.  We are now attempting to break through the key 65 week MA - if the breakout is successful, this would suggest that the intermediate down trend is at an end and higher prices are ahead, though a failure would be very bearish.

Today's video for subscribers looks at the recent trading in more detail and our strategy for our next trade.
2 Comments
mcx tips link
15/7/2014 05:47:16 am

Very INFORMATIVE and just FANTASTIC! I was looking for the related information. Thanks a lot it is very useful for me. Would love to read some pieces on the topic..........
<a href="http://www.capitalheight.com/bullion-premium.php">Mcx Tips</a>

Reply
Samsung 32 inch hd ready smart led link
17/9/2020 07:45:13 am

Your thing with respect to making will be for all intents and purposes nothing hard to come by of amazing. This instructive article is unimaginably valuable and contains offered myself a superior answer for have the option to my own issues.

Reply



Leave a Reply.

    Picture

    More from Our Blog

    Picture
    7 Keys to Successful Online Trading
    Picture
    5 Financial Trading Mistakes to Avoid

    Old Posts

    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.