Wednesday, April 17, 2013

Gold

Gold: CIMB notes the support trendline gave way at the end of last wk with prices plunging as much as 14% in only two days. As daily MACD and RSI do not yet show any positive divergence signs, the house believes there is likely more downside for gold. Adds, prices could find support at US$1,300 or US$1,150.

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