Forex | Forex Strategies | Gold Trading Analysis 18 August 2009 (18/08/2009 05:31:21)

Gold Trading Analysis 18 August 2009

As spot gold prices continued to slide yesterday I hope you were able to take some profits on the way down as gold trading ended the session on a wide spread down bar which broke below the 40 day moving average closing deep within the support level between the $920 and $938 price band.  Following such a deep move we may see a small reversal tomorrow as bargain hunters come out in force to take advantage of gold's recent reversal.  However, technically spot gold prices now look weak


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