Monday, 21 April 2014

Gold approaching potential support, today's high key to continued down trend

Daily chart shows Gold approaching a test of potential support at the April 1 low.

Hourly chart shows that today's high coincides with the trend line drawn from the candles on April 14, suggesting that the illustrated down trend line and today's high are key to a continued down trend in the near term.

ASX 200 testing long term trend line resistance

Weekly chart shows the ASX 200 testing long term trend line resistance. If this month's high is meaningfully breached, the next target will be parallel trend line resistance around 5650. Chart includes after hours trade.