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if we look in weekly chart then we can see gold is making continue down movement. there is one good resistance trend line at 1650. so i hope we can see more down movement and it will try t touch 1650 level. loge at 1650 is good with 1700 take profit if this level is break then fruther downmovement is expected.
Bias is neutral in nearest term for gold, as
market still wait US Presidential election,
immediate resistence at 1685 region, a clear
break above that area could trigger further
bullish pressure targeting 1700 key resistence
area. Immediate support is found at 1680
region, a clear break below that area should
trigger further bearish toward 1670 area.
Resistance Level : 1685, 1700, 1710
Support Level : 1680, 1670, 1660
Trading Range : 1700 – 1670
Trend : Neutral
Expected trading range for today is between: support at 1661.00 and resistance 1692.00
General tendency is expected for the day: Down
Gold back to rise today and make change of short term trend to up. Gold rise and able to touch 1689.03 as a daily ressistance 1 level. If this condition still continue, gold may get up consistent position until market closed.
Gold 05/11/2012 - 4h Chart Analysis
http://fxlisting.net/images/gold240-05112012.jpg
GOLD 4 HOURS
SUGGESTIONS: In my opinion, the price of Gold goes to the level of 1.626,87usd. Pre-condition the “breaking” of the U3 blue trend line that originates from May 2012. In addition, please note that the 4.25 Fibo ****e that I was mumbling about all last week, is not totally dead yet. The present level price is within its influence and it is not impossible to observe from here a reversal.
Another interesting target is the U2 trend line, the parallel of the U1 trend line, i.e. the channel U1-U2.
The running short positions continue. Below the U3 trend line you should increase slightly your short exposure. If the 4.25 Fibo ****e reacts, you should drastically decrease your short exposure.
The “Bulls” stay calm and enjoy Autumn.
---------- Post added at 11:22 AM ---------- Previous post was at 11:21 AM ----------
Gold 06/11/2012 - Chart Review and Analysis
http://fxlisting.net/images/gold240-06112012.jpg
SUGGESTIONS: It’s too early to comment on the “young” reversal we observe in the Gold’s chart. The previous comments made on the Gold’s evolution are still valid.
In M30 chart price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
21 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Target: 1705.80
failed to keep the level of sellers in 1685 and the price has gone up to more important mark in 1700 ... there is a time and expect the price to stop and start again to fall ... but I would not limit exhibited .. should look at the situation, whether slowing down ....
Gold finally went to the northern correction, northern end of the correctional wave and a possible resumption of the South, I expect to reduce the level of 1700, and while he was my main northern goal, as the dollar index went to the reduction that will push the price of gold.
gold is very good trading because it is always profitable for me i get about $32 profit from gold trading in a day so i really belive that gold trading is very good trading for traders it always gives you profit as well as happiness
The trading range for today is among the key support at 1660.00 and key resistance 1700.00
The short term trend to the upside targeting 1945.00 per ounce consistently trading above the 1520.00 close of the week.
Spoiler: