FX.co ★ GOLD Bearish Outlook, March 25, 2011 (Daily Strategy)

GOLD

Yesterday, gold has made ​​a maximum in 1447 dollars per ounce, then correct, according to our table pivots gold has met strong resistance in 1444, is important to note the formation of a pattern called the butterfly, which has a bearish performance.

Believe that if gold fails to break this level and close above this, therefore recommend a daily close below 1444 would be a good opportunity to sell as the first target until the monthly pivot around the level of 1389, and final goal in 1337 dollars per ounce.