fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Gold Technicals - Bullish Momentum Fading As Bears Enter  Mon Dec 30, 2013 11:23 am | |
|  Gold Technicals - Bullish Momentum Fading As Bears Enter Prices opened higher this morning, but bulls were quickly defeated with bears sending price packing much lower quickly, breaking the 1,210 soft support in the process and hitting a low of 1,207.5. At the time of writing, prices remain bearish, but a slight rebound is seen ahead of the test of resistance turned support around 1,207. Considering that there isn't any major global economic development over the weekend nor this morning, today's decline can only be attributed to the bearish momentum that started during US session last Friday. Hence, it is interesting to note that price manage to break the 1,210 level, and suggest that bullish momentum that has has been in | |
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