{"id":2790,"date":"2009-07-02T10:56:47","date_gmt":"2009-07-02T15:56:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2790"},"modified":"2009-07-02T10:56:47","modified_gmt":"2009-07-02T15:56:47","slug":"gold-holds-onto-june-lows-despite-pullback-in-equities","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/07\/02\/gold-holds-onto-june-lows-despite-pullback-in-equities\/","title":{"rendered":"Gold Holds onto June Lows despite Pullback in Equities"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold is behaving pretty well today considering the size of the selloff taking place in U.S. equities markets.\u00a0 It seems the pullback in the S&P has already been factored into gold during the precious metal\u2019s rapid decline in June.\u00a0 Gold is holding onto June lows with the EUR\/USD and GBP\/USD fighting to keep their respective technical supports intact.\u00a0 Though gold reacted negatively to the discouraging unemployment data out of the U.S., volume has been under control.\u00a0 However, we will have to see how the 16:00 bar on the 4-hour fares volatility wise, and whether the precious metal chooses to retest June lows.\u00a0 The technical key to the downside will be our 1st tier uptrend line.\u00a0 Below here, gold has June lows and naturally the highly psychological $900\/oz level.\u00a0 Due to the July 4th holiday-shortened week, investors may not have enough ammo to send the S&P futures tumbling below their June lows.\u00a0 Gold would need a technical statement to the downside such as this for the precious metal to compromise its own June lows.\u00a0 Gold will likely take its cue from the S&P and its behavior between 875-900.\u00a0 Therefore, investors should keep a close eye on U.S. equities and their reaction to upcoming 2nd quarter earnings reports.<\/p>\n

Present Price: $928.18\/oz<\/p>\n

Resistances: $930.56\/oz, $932.29\/oz, $934.36\/oz, $936.78\/oz, $939.37\/oz<\/p>\n

Supports: $927.98\/oz, $925.24\/oz, $923.59\/oz, $921.41\/oz, $918.99\/oz<\/p>\n

Psychological: $900\/oz<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong><\/span><\/a>.<\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – Gold is behaving pretty well today considering the size of the selloff taking place in U.S. equities markets.\u00a0 It seems the pullback in the S&P has already been factored into gold during the precious metal\u2019s rapid decline in June.\u00a0 Gold is holding onto June lows with the EUR\/USD and GBP\/USD fighting … <\/p>\n

Continue reading “Gold Holds onto June Lows despite Pullback in Equities”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2790","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=2790"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2790\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}