Hi Traders,
Today 24 AUG 13
Daily Trend : UP
Weekly Trend :DOWN
Reason for changing trend:
1. Price reached weekly resistance.
2. RSI at overbought with divergence.
3. Price has deviated too far from moving average
Conclusion:
The future trend for the gold is 'down to sideways ' for daily and weekly
Today 24 AUG 13
Daily Trend : UP
Weekly Trend :DOWN
Reason for changing trend:
1. Price reached weekly resistance.
2. RSI at overbought with divergence.
3. Price has deviated too far from moving average
Conclusion:
The future trend for the gold is 'down to sideways ' for daily and weekly
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