26 Mar 2014
Gold consolidating around $1,310
FXStreet (Córdoba) - Gold finished with a marginal gain on Tuesday, hovering around $1,310. During the day the yellow metal fell to $1,305.50 reaching the lowest price since February 14. From the lows the price bounced to the upside and tested daily highs above $1,315 on American hours but failed to hold and pulled back erasing gains.
Price continues to trade with a bearish bias but the flat close of Tuesday could suggest some stabilization ahead considering that it has approached the psychological mark of $1,300 after dropping almost $90 in a week.
Gold technical levels
Immediate resistance could be located at $1,316 (March 25 highs) and above here at $1,325 and $1,333. To the downside support levels might lie at $1,305 (March 25 low), $1,300 (psychological level) and $1,296 (February 12 high).
Price continues to trade with a bearish bias but the flat close of Tuesday could suggest some stabilization ahead considering that it has approached the psychological mark of $1,300 after dropping almost $90 in a week.
Gold technical levels
Immediate resistance could be located at $1,316 (March 25 highs) and above here at $1,325 and $1,333. To the downside support levels might lie at $1,305 (March 25 low), $1,300 (psychological level) and $1,296 (February 12 high).