Gold, 3rd July 2014

TradeCuts

Member
68 1
The yellow metal has ranged for the last few days and currently it is testing the range on the lower end. With current support and resistance structures, it is expected that Gold will push downwards as it retests stronger support at 1310 levels. As an alternative scenario, if it breaks upwards then there is good possibility that it may hit 1353 range. With current price action the bias is towards retest of 1310 and that is what our analysts at TradeCuts are targeting. Let us know what is your take on the Yellow Metal.
 

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Atilla

Legendary member
19,463 2,879
The yellow metal has ranged for the last few days and currently it is testing the range on the lower end. With current support and resistance structures, it is expected that Gold will push downwards as it retests stronger support at 1310 levels. As an alternative scenario, if it breaks upwards then there is good possibility that it may hit 1353 range. With current price action the bias is towards retest of 1310 and that is what our analysts at TradeCuts are targeting. Let us know what is your take on the Yellow Metal.

Agree no appetite for gold especially in light of inflationary pressures and possible rate rises on the horizon.

However, Russian and Iranian interference in fighting back ISIS (Saudi Arabian and US funded militants) likely to escalate tension in the ME.

As long as oil is secure and by all likelihood it is given prices not rising gold will fall imo.
 

TradeCuts

Member
68 1
Agree no appetite for gold especially in light of inflationary pressures and possible rate rises on the horizon.

However, Russian and Iranian interference in fighting back ISIS (Saudi Arabian and US funded militants) likely to escalate tension in the ME.

As long as oil is secure and by all likelihood it is given prices not rising gold will fall imo.

Yes, our outlook on gold has been short too. Do take a look here and feel free to comment and give your opinion. http://www.tradecuts.com/tc_insight.php
Thanks
Team TC.
 
 
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