Gold sees potential bearish technical implications ahead of FOMC

Key Technical Bullets:

• Failed into 38.2% retracement near $1348
• Faltered continually into 55-day sma
• Daily RSI was rejected at key 60/65 level (bearish)
• Failed into daily Ichimoku Cloud
• RSI broke below corresponding channel support prior to price (bearish)
• Channel support resides near $1303/05
• Prior highs around $1300 may prove supportive
• Convergence of prior highs & lows seen between $1267/70

Keep in mind that daily RSI still remains above the key 40/45 level – A break below would indicate a potentially renewed downtrend in price, however this has still yet to materialize. Depending upon the outcome of today’s FOMC statement at 2pm ET, this may not emerge at all.

Источник: Forex.com

31.07.2013