{"id":7975,"date":"2010-03-25T13:53:34","date_gmt":"2010-03-25T17:53:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7975"},"modified":"2010-03-25T13:53:34","modified_gmt":"2010-03-25T17:53:34","slug":"gold-stabilizes-from-324-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/25\/gold-stabilizes-from-324-lows\/","title":{"rendered":"Gold Stabilizes from 3\/24 Lows"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has managed to gain back some ground from its 3\/24 lows, yet is declining again after failing to reach $1100\/oz.\u00a0 Gold understandably logged heavy losses yesterday as the Dollar soared across the board.\u00a0 Uncertainty in Greece and now Portugal sent risk traders towards the exit, a negative development for gold since it tends to be negatively correlated with the Greenback.\u00a0 However, it will be interesting to see if the precious metal can managed to climb back above its key $1100\/oz level as the risk trade battles for stabilization.\u00a0 The EU summit is kicking off and will conclude tomorrow, meaning volatility could pick up as the week comes to a close.\u00a0 Although there has been a muted response from the Euro, the summit certainly carries the firepower to ignite volatility should investors approve\/disapprove of the outcome.\u00a0 Hence, investors should keep an eye on the Dollar\u2019s reaction to incoming headlines on the news wire concerning the EU.\u00a0 Gold dropped below a key uptrend line yesterday which runs through 2\/5 levels, or the $1050\/oz area.\u00a0 Hence, if gold can\u2019t lock back into its uptrend soon more losses could be in store over the medium-term.<\/p>\n

Technically speaking, gold has intraday and 3\/24 lows serving as technical cushions along with the psychological $1075\/oz area should it be tested.\u00a0 As for the topside, gold faces multiple downtrend lines along with intraday highs and the highly psychological $1100\/oz level.\u00a0 Hence, it seems gold has an uphill battle ahead of it.<\/p>\n

Present Price: $1091.90\/oz
\nResistances: $1092.23\/oz, $1093.37\/oz, $1094.92\/oz, $1096.18\/oz, $1097.26\/oz, $1098.10\/oz
\nSupports: $1089.78\/oz, $1088.72\/oz, $1088.01\/oz, $1087.21\/oz, $1085.21\/oz, $1084.93\/oz
\nPsychological: $1100\/oz, March lows<\/p>\n

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

(click chart to enlarge)<\/p>\n

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

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regarded neither 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 has managed to gain back some ground from its 3\/24 lows, yet is declining again after failing to reach $1100\/oz.\u00a0 Gold understandably logged heavy losses yesterday as the Dollar soared across the board.\u00a0 Uncertainty in Greece and now Portugal sent risk traders towards the exit, a negative development for gold … <\/p>\n

Continue reading “Gold Stabilizes from 3\/24 Lows”<\/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-7975","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7975","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=7975"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7975\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}