The key support at 1352 has been broken.
• Gold has broken the key support at 1352 , invalidating the rising trend in place since 28 June. A move towards the support at 1268 is favoured as long as prices remain below the resistance at 1358 (10/09/2013 low). An initial resistance is given by the steep declining trendline (around 1350).
• The decisive break below the support at 1352 indicates an increasing selling pressure and favours the start of a medium-term corrective phase. Key supports are at 1268 and 1181.
• Gold has broken the key support at 1352 , invalidating the rising trend in place since 28 June. A move towards the support at 1268 is favoured as long as prices remain below the resistance at 1358 (10/09/2013 low). An initial resistance is given by the steep declining trendline (around 1350).
• The decisive break below the support at 1352 indicates an increasing selling pressure and favours the start of a medium-term corrective phase. Key supports are at 1268 and 1181.