GOLD: Probably the descending movement will continue

16.07.2015 / 11:15

Rating:

GOLD: The fundamental and technical analyses indicate negative expectations regarding the gold's price.

The monetary policies of the major central banks are already being restricted-orientated, a fact that would negatively influence the price of the precious metal.

Using the gold as a hedging instrument is not up-to-date as the risks in front of the world economy are decreasing.

The negative movement of the price continues as we are witnessing lower tops and smaller daily bars. The price is between its levels of support from November 2014 and February 2015, therefore, it is very probable to see the consolidation and breakthrough below 1131.86.

Price below the MA`s, the indicators show a probable continuation of the descending movement.

Good places for sell after small correction around 1153 and stop 1169.

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GOLD: Probably the descending movement will continue

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