Gold prices plunge related to investor caution before the speech by Janet Yellen Friday and rsquo; night or early Saturday, as the rise of the reference rate plus the Fed policy.
Or commercially on Thursday (26/05/2016) experienced a decline of continuing previous trading day. The opening price of gold in the harga1223.50 level with the movement gained in advance to reach a high level of 1234.10, then changed direction until it reaches the most prize low at 1218.30. Gold closed at 1219.60 price level close to the lower prices
The movement of gold prices today are expected to remain under pressure with attention to economic data that exist in the current form. G7 meeting; as well as economic data from the United States (Prelim GDP q / q hours of 19:30 and Fed President Yellen Speaks hour 24:15 / Saturday morning).
Given the stochastic indicator (5,3,3) or at the level of 9% and 8%, which is over-sold territory. The trend of the market rebound limited given the existing fundamental. The normal range for the market today should 08.20 & ndash; 1226.10 with a support strength as follows:
R3 ?? ?: ?? 1242.00? ?? ? (High resistance)
R2 ?? ?: ?? ? 1234.70
R1 ?? ?: ?? ? 1226.10
S1 ?? ?: ?? ? 08.20
S2 ?? ?: ?? 10.30? ?? ? (Strong support)
S3 ?? ?: ?? ? 1194.30
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