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Gold Under Massive Pressure

MultiBank Exchange Group
By MultiBank Exchange Group

The Gold plunged on Tuesday and touched the $1281.44 per ounce as the USDX has rallied. The bearish momentum was paused by the long term 38.2% retracement level and the 50% level. A retest of the WL1 will signal a drop at least till will reach the SL of the ascending pitchfork.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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