Posted on January 20, 2013 at 12:51pm
CASE FOR GOLD BULLION 2013
- Price action on the weekly looks set for reversal of the price of gold:
-After heavy selling Gold formed a reversal bullish hammer right at 61.8% Fibonacci retracement.
- Gold is still trading inside a wedge and is likely to break to the upside
- RSI and Slow Stochastic did not confirm lower low (positive divergence)
- There is a MACD Buy Signal on daily chart
- Support around US$1,625.00-1,640.00…