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Forex Today News Gold at still Bearish

Posted by cahaya  |  at  12/03/2013 09:49:00 AM

Gold today at 1219.50, opened lower than yesterday's opening Monday prior to 1250.67 and the price downtrend is still happening on GOLD. Technically using fibonaci price and the price is now 1221.51 want to try to get the price up if the price is 1225.80 and can be breached then the price will go to the next pivot in price 1234.13 1242.46 even with the movement of the price range of 1250.80 - 1284.14.

But if the price is not capable in penetrating then the price will go back down to the price 1217.46 1209.13 even with the movement of the price range of 1200.79 - 1184.12

Recommendations for open positions:

BUY STOP 1229.35

STOP SELL 1215.50

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