Bullion Weekly Technicals 17 December 2013

Gold – Daily Chart

We expect to see further short term range trading and thus keep our neutral forecast

Gold remains sidelined and did bounce as expected last week before giving back most of last week’s gains.
We will retain our short term neutral view while it remains above the current December low at 1211.57 on a daily chart closing basis.
While this remains the case the 55 day moving average at 1283.79 and the 2013 downtrend line at 1301.70 may well be reached but should then cap.
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