GoldUSD Technical Analysis for June 28th
2013
The Gold retreated towards the $1200 ,which represents
the lowest level since August 2010, and now is going to record the lowest level
since 1968, due to the increasing worries about the Fed decision to reduce the
stimulus measures .
The Gold/USD declined by around 15 % since the beginning
of the last week and lost around $200 per ounce after Chairman Ben Bernanke said that the central bank,
which buys $85 billion a month of Treasury and mortgage debt, may begin
reducing purchases this year and he will end the program in 2014 should the economy continue to improve.
And as we notice on the daily chart that the
GOLD/USD prices have breached down the lowest levels of the descending trend,
which represented a strong barrier.
We also notice that the Stochastic indicator
starts to give us upward signals , and we expect that the bearish wave will be followed
by a bullish wave, especially on the next Thursday .
So we recommend you to monitor the trading of the
Gold until if will finish the bearish trend, and buy before the beginning of
Thursday trading, as we expect also it will recover at the beginning of July .
