Tody the gold price sare clearly exhausted - DUKASCOPY BANK SA

21 Jul 2016

Currently gold is trading around the local level of support, namely weekly S1 at around 1,313. The pair has been able to test this level. On top, the gold is supported by the 20-day SMA, which is located at the level of 1,326. The price of gold to date clearly exhausted, as strong data reporting US companies have returned positive sentiment in the market and weakened demand for safer assets, said analysts at the Dukascopy Bank SA. The portion of long position in the SWFX market rises and at the moment is 50%.

Source: Finmarket