Gold

GOLD next week

Elliott: flat correction down 1741.08
Market should not go lower than 1753.50 - 1744.63. After this move down it should go up to 1767.35 - 1772.33 area.
Warning: Imminent end of bearish move
Technical points
Key point 1,744.2800
Entry point 1,758.2100
Elliott 1,796.0000
Closing 1,754.6000
Projection 1,736.7500
Trendline 1,780.1000
Trendline 1,764.1900
Supports / Resistances
Res 2 1,790.0600
Ex-High 1,780.1000
Res 1 1,772.3300
Pivot 1,762.3600
Sup 1 1,744.6300
Ex-Low 1,752.4000
Sup 2 1,734.6700

Gold :

The trading rang for today is among the major support @ 1549 and the key of resistance @ 1560.
The general over short term basis is to the upside targeting 1560 as far as area of 1550 .

I think trade and investment through the gold began to demand a lot of people, this is because in addition to easy dah gold investment also does not require high knowledge keahlihan and also profitable.

for short-term analysis on Friday's pair gold has decreased quite strong and I think for the opening of the next candle meeklu prices will go down first and after that gold will try to keep up

Quote:

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Originally Posted by gandha

for short-term analysis on Friday's pair gold has decreased quite strong and I think for the opening of the next candle meeklu prices will go down first and after that gold will try to keep up

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You are right ,we can see some more downfall in gold in the ist few hours of market opening but the gold will surely bounce up to the 1800 pretty soon .Its the best time to take some long positions in Gold .

Yes it is not easy to take and expand the gold you need a lot of money and time ... this is just consolidation can be used to set the positions on the south side ... while the bottom has a very strong level of 1740, but I think if the price is fixed below that may follow acceleration of the fall ...

at the end of last week, price of gold went down and go to support area at 1753, tomorrom at monday price possible to move between :
Resistance : 1770.22
Support : 1739
if price break down and follow the bearish trend, price of gold will go to support area at 1739

Spoiler:

http://i1262.photobucket.com/albums/...psbec77946.gif

Gold futures for December delivery traded at USD1765.35 a troy ounce in U.S. trade falling 0.30%.

It earlier traded at a session high USD1772.45 a troy ounce. Gold was likely to find support at USD1758.85 and resistance at USD1781.55.
Gold fell on profit taking despite the U.S. UoM consumer sentiment rising unexpectedly last month, preliminary data showed on Friday.

In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 83.1, from 78.3 in the preceding month.

Analysts had expected UoM consumer sentiment to fall to 78.0 last month.
Meanwhile, U.S. producer price inflation rose more-than-expected last month, official data showed on Friday.

In a report, U.S Bureau of Labor Statistics - Department of Labor said that U.S. PPI rose to a seasonally adjusted 1.1%, from 1.7% in the preceding month.

Analysts had expected U.S. PPI to rise 0.7% last month.

US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, fell 0.15% to trade at USD79.75.

Elsewhere on the Comex, Silver for December delivery fell 0.83% to trade at USD33.79 a troy ounce while Copper for December delivery gave back 1.01% to trade at USD3.713 a pound.

Price raised $5 after market open and formed another bullish candle on daily chart, if its able to break the 1551 then we see some quick rally toward all time high, Hold on buy order till all time high. The trading rang for today is among the major support @ 1498 and the key of resistance @ 1511.
The general over short term basis is to the upside targeting 1511 as far as area of 1520 .

Quote:

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Originally Posted by kalex76

You are right ,we can see some more downfall in gold in the ist few hours of market opening but the gold will surely bounce up to the 1800 pretty soon .Its the best time to take some long positions in Gold .

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possible when looking at the position of gold daily candle still want to continue the downtrend as a bias correction of the uptrend, it looks a wave begins to form, I will do berpifir buy order at 1715 area