GOLD TECHNICAL (Avinash Lokhande)

GOLD TECHNICAL ANALYSIS – Gold prices have stalled a bit after touching a four-month high last week. Negative RSI divergence warns that the pause may translate into a larger reversal lower as upside momentum fizzles. A reversal back belowthe 50% Fibonacci expansion at 1312.90 opens the door for another challenge of the 38.2% level at 1294.91. Alternatively, a breach of the 61.8% Fibat 1330.89 targets the 1353.15-57.50 area (76.4% Fib, September 8 high)











Avinash Lokhande
Vinvestment of India
www.Vinvestmentofindia.com