World Stock Indexes

jueves, 7 de agosto de 2014

Are gold bulls still alive?

Are gold bulls still alive?

http://www.futuresmag.com/2014/08/07/are-gold-bulls-still-alive#.U-OgLixDkUU.twitter


Gold traders (COMEX:GCU14) have recognized the support level of $1,280 signaled by the 200-day moving average and the 61.8% Fibonacci retracement of the last rally.
As long as $1,280 is not broken, we can count on a continued recovery to bring the market back to the previous high of $1,340-$1,360.
Later, a break above this resistance will enable more rallies toward higher highs back to at least $1,390.
A drilling down below $1,280 will erase any possibility of a move up and  gold will be vulnerable to extend losses taking the metal back to the previous lows at $1,250-$1,240 and medium-term key support.



About the Author
Julian Yosovitch
Julian Yosovitch is a trader, and columnist for Ambito Fiinanciero (Argentina), Gestion (Peru), Saladeinversion.com, Inversion and Finanzas (Spain).
He holds a Bachelor of Business Administration and a Professor Master in Finance (UDESA). He is also a Capital Markets Specialist (UBA-IAMC) and Financial Markets Analyst - Ruarte´s Reports Trader. Follow his blogs here, and folow him on Twitter @julianyosovitch.