GOLD, there is no sign of recovery!
Gold doesn’t show any emotions for events in Greece, on the contrary. Price surged on Sunday night to 1187 and then went back, even lower from Friday’s closing. There is no sign of the buyers at all, but the price is currently lying on the support level and trend line at 1168/70. Could this level help gold to bounce? Brake could lead the price lower to 1162>1146/42. Could this level hold and reverse the price up? Gold looks bearish and it looks like the 1180 is target price for the last couple of weeks. I am sure if there is no technical support here, that the price will fall like a rock down to 1142/46. Nobody likes precious metal anymore, give me the ‘printed papers’ baby! 🙂 I am kidding sure, take a look at this technical levels.
Forex Trader 