The gold has break through the range

May 27, 2014 by

The gold has break through the range downwards in ascending triangle. Strong Japanese CSPI (Corporate Services Price Index) and better than expected Swiss trade balance (increased exports) data helped to decline the precious metal further down.

Currently it is holding the previous low level of 1283.22. As you can see in a picture below, the expected next support levels are 1277.29, 1274.35 and 1268.15 respectively.


xauusd daily 27.05.2014


All the moving averages (7, 14, 55) remained above the price level. The RSI (14) pointing downwards, while MACD (12.26.9) is moving just below the 0.00 lines.