Gold declines as expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 44% 44% 0.00%
Shorts 56% 56% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The expected decline of the yellow metal has occurred. However, it did not come into reality exactly as it was expected. 

The bullion broke the narrow ranged channel down pattern. The narrow pattern turned out to represent the junior decline in the borders of a wider descending pattern. 

The newly discovered pattern was the one, whose upper trend line provided the resistance needed for the speculated decline. 

In regards to the near future, on Thursday morning the range down to the levels near the 1,300.00 mark was free from support.

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