Gold trading strategies of some trusted institutions - December 24, 2013

Gold dropped to 1202.50 U.S. session open , then increased to the highest level during the day at 1204.50 as U.S. economic data showed personal consumption rose sharply . Finally , the metal turned down when global stock markets climb to a record high , making gold market closed at its lowest level in 1198 version .

Forex Yard - Gold Trading Strategy Day 24/12

The level of technical support Resistance : 1245 -1227 - 1215 Current Price : 1196.9 Support levels: 1180 - 1167 - 1155 Pivot : 1215 The main strategy : Sell ??below 1215 target for the 1180-1167

Secondary strategy : If break 1215 targets for 1227-1245

Comment : The RSI is bearish and falling longer than expected .

Identify trends ScotiaMocatta gold 24/12

Gold dropped to 1202.50 U.S. session open , then increased to the highest level during the day at 1204.50 as U.S. economic data showed personal consumption rose sharply . Finally , the metal turned down when global stock markets climb to a record high , making gold market closed at its lowest level in 1198 version .

Thus, gold has stopped at 1198 . Support is at its lowest level in 1180 with the highest resistance of Thursday 5 weeks ago around 1227 . RSI is at 37.48 with support xuong19.74 reduced compared to the previous low , because gold could fall further before approaching the oversold territory .