Gold price today technical analysis 14-2-2013

Gold price technical analysis 17 - June, 2013

Gold price today technical analysis 14-2-2013-the pair of gold / U.S. dollar closed at a level lower than the opening price, as investors took a cautious stance ahead of the G7 talks, which will begin tomorrow.

And the pair of gold/US dollar maintains its forecast upward while trading in the descending channel that arose in October 2012. Yesterday, the price is the lowest settlement since Aug. 22. And the husband had penetrated below the vital support level at $ 1660 USD/Ounce and got the momentum to break through the bottom of the $ 1652 a few days ago.

Yesterday, the pair tried to climb back above the level of 1652 and that it marks the 50% decline based on the move upward from 1526.82 to 1795.75, but failed to do so after they encountered strong resistance and dropped to the support level at 1640.50.

Recent data from the United States increased optimism that the first quarter of this year will be better than previously expected. With this, the concerns about the U.S. budget negotiations may affect investor sentiment unless policymakers acted immediately.

While President Barack Obama was trying to get an increase on the minimum wage federal, the head of U.S. House of Representatives, Republican “John Bouhener” refused President said: “When you lift the cost of recruitment, predicted what will happen?’ll Get to hire less. Why do we want to Nsab recruitment process to small business owners? “.

Will be the level of $ 1642.50 USD/Ounce is the key level to censor today as the price he would have found support there for two days in a row. Although I expect to see some consolidation in the short term, if downward movement succeeded in penetrating that level, I think we we will test the level of 1635 and 1625 at the end.