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18 Mar 2015
Gold: further losses ahead – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team gives the technical outlook and key levels for XAU/USD using weekly charts.
Key Quotes
“Looking long-term, Gold has experienced a high volatility and the price moved to a low at around $1139.”
“There doesn’t seem to be a reliable support level, as the price dropped during the last weeks almost by more than 100 dollars.”
“The CCI is showing that the the metal is moving under the Center line. The price touched once the highest Fibonacci resistance level (61.8). Further losses are possible.”
“Support Levels around 1139.20”
“Resistance Levels around 1303.11, 1346.40”
Key Quotes
“Looking long-term, Gold has experienced a high volatility and the price moved to a low at around $1139.”
“There doesn’t seem to be a reliable support level, as the price dropped during the last weeks almost by more than 100 dollars.”
“The CCI is showing that the the metal is moving under the Center line. The price touched once the highest Fibonacci resistance level (61.8). Further losses are possible.”
“Support Levels around 1139.20”
“Resistance Levels around 1303.11, 1346.40”