(14 AUGUST 2017)GOLD (in USD):Bearish consolidation.

(14 AUGUST 2017)GOLD (in USD):Bearish consolidation.

14 August 2017, 13:57
Jiming Huang
0
25

gold

Bearish consolidation.

(Yann Quelenn )

• Gold is consolidating lower. Hourly support is 

given at 1251 (08/08/2017 low). Stronger support 

lies at 1204 (10/07/2017 high). The commodity is 

heading towards resistance given at 1296 

(06/06/2017 high). Expected to show renewed 

buying pressures. 

• In the long-term, the technical structure 

suggests that there is a growing upside 

momentum. A break of 1392 (17/03/2014) is 

necessary ton confirm it, A major support can be 

found at 1045 (05/02/2010 low)


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