Gold technical analysis: Bears eye the 50% Fibo retracement

• Gold prices are bleeding out as the dollar stages a recovery.
• A  50% Fibo’ retracement of the April swing lows to late June swing highs on the cards.

Gold prices have left a bullish pin bar on the charts while the 20-day moving average supports price which comes ahead of 1375. On a continuation of the downside, however, the  50% retracement of the April swing lows to late June swing highs come in around 1350. On the upside however bulls can aim for  the1410, then 1440 are key resistances which make way for a continuation to the May 2012 lows at 1527.

Gold levels