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12 Feb 2013
Gold prices trading at $1644.37
After breaking the short-term support during European trading, gold prices continued to move lower, dipping below the 1645.00 level Tuesday. According to the Technical Analyst Team at ICN.com, “The bearish bias is expected to continue, eying a retest of the major low at 1625.00 level, however, rallies should remain limited below 1653.00-1655.00 level for this bearish bias to remain dominant.”
In particular, after falling as low as the 1642 region earlier today, gold prices have presently settled at USD $1644.37, down $-3.78 Tuesday. The ICN.com analysts point to additional supports at the 1635.00 level, onto 1625.00 and finally 1610.00. On the ascension, gold prices will encounter measures of resistance at 1653.00, then 1660.00, followed by 1666.00.
In particular, after falling as low as the 1642 region earlier today, gold prices have presently settled at USD $1644.37, down $-3.78 Tuesday. The ICN.com analysts point to additional supports at the 1635.00 level, onto 1625.00 and finally 1610.00. On the ascension, gold prices will encounter measures of resistance at 1653.00, then 1660.00, followed by 1666.00.