Technicals - Gold - sell signal target has been reached
QMG Pty Ltd
The spot gold price previously generated a technical sell signal at US$1255 on 19/5/16 (as flagged in recent Wire) (VIEW LINK). The technical outlook turned negative at that point. As a result of the decline on Friday night the nominated minimum downside technical price target located at US$1210 was reached during intra-session trading. However, the technicals remain negative given there is no sign of base forming emerging.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.