GOLD, strong selling pressure

mario-urlic-forex-gold-04-10

The sellers are strong after they have touched daily MA100 yesterday and broke the psihical 1300 support today. The selling pressure continued and they have reached 1292.42 low for now, but the bearish momentum is still strong. As you can see, at first they have broke the support trend line and daily MA100, 1300 latter on and another support trendline. As I see it 1290/92 is strong support now, but as I wrote before, the sellers could take over the precious metal here below those levels and build another pressure. Let’s see how and will the buyers react at all? There is weekly MA200 at 1282, could that be the target?

mario-urlic-forex-gold-m1

Sellers attack on the support 1290/92, M1 chart!

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