MUMBAI, Mar 15 - Gold Trading futures prices on Comex are trading solidly lower and hit a fresh seven-week low Wednesday morning, on follow-through selling pressure from Tuesday afternoon’s downdraft that was prompted by an upbeat FOMC statement and by news J.P. Morgan declared a dividend after a successful stress test result. Fresh near-term technical damage has been inflicted on the gold chart. Spot gold last traded down at $1,644 an ounce.
Gold Technical View : We have made things simpler for readers, we have incorporated a indicator overlaid in prices which gives the common investor the over all trend of the commodity at a glance.
On the price chart ,we have given the Cylcle strenght indicator for GOLD , Silver, Crude, Euro and Dow – and the way to interpret is as long as the indicator values is above 0% – a bullish ( strength) signal and below 0% reading indicated a bearish ( getting weaker) signal.
As you see the Gold sell signals continues to hold ( see previous posts and latest post here Gold Trading
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