TECHNICAL STRATEGY – Gold BY LLOYDS TSB

Gold has completed long-term and medium-term sell signals. It shows significant divergence in momentum (ie falling momentum despite rising prices) since October, suggesting that recent gains in Q4 were weak.

Sell Gold

Gold has completed long-term and medium-term sell signals. It shows significant divergence in momentum (ie falling momentum despite rising prices) since October, suggesting that recent gains in Q4 were weak.

Long-term trend support lis around 1148, then 841 – 875.

The short-term daily chart shows similar trend exhasution, in additio to completion of a bearish head & shoulders pattern and a break of short-term trend support.

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