Commodity News-November-3-2014

Gold Price is DOWN and Out.


 The Gold price is getting lower and lower price tags as ornament market also is very sluggish.

 It is proven that the recovery is / will take time.


The weekly chart remains fully bearish specially now that we have broken below the triple bottom at $1,180.

Gold  remains fully bearish towards $1,050 to 1100.

Do not go to buy but just look for a bounce will be seen as an opportunity to sell.

Commodity News-November-3-2014


Gold price chart

Gold price is coming down


Commodity News-November-3-2014

As the weekly resistance is at $1,213 and a weekly close above it could signal a bigger bounce towards $1,260.

As long as Gold price is below the cloud and below the blue trend line resistance I remain bearish with targets below $1,100.

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