Technical Updates

Gold Decline to 1706$

Gold Decline to 1706$

Indicators :

– RSI Period 14 with 30 level as oversold and 70 level as overbought.

– The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.

– Gann’s Price&Timing Study.

– Simple Moving Average 50 Period (Blue), 100 Period (Red) and 200 Period (Green) on the chart.

Gold continue to decline since 2012.10.05’s high, the market are below 50SMA, 100SMA and 200SMA ready. Price&timing have resistance at 1740 level. The bearish continuation by previous price projection will bring the market down to 1706$.

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