Gold

Gold technical analysis for 16.11.2012 by using : Auto pivot indicator.

resistance 3:1745.73
resistance 2:1739.57
resistance 1:1732.73

pivot point :1726.57

support 1:1719.73
support 2:1713.37
support 3:1706.73

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.

Low yesterday ($ 1704) has touched the 50% Fibonacci level daily chart ($ 1,705). If today's closing below that the testing area in the $ 1677 - $ 1685, $ 1705 area also is a signal to the selling pressure on profit-taking. Conversely, if the closing today above $ 1717 then it is likely to re-testing sideways to break $ 1740 area will continue to try and break area $ 1725 a movement signal.
Will carefully massive profit taking which can make bearish rally towards testing price $ 1650 - $ 1660, Closing day can be used as a foothold in the price movement of gold in the next week.

Quote:

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Originally Posted by Anytime

Main ye thread GOLD ke discussion ke liye bana raha hain. Sabhi members ko ya post karne ke liye swagat karta hoon.

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my dear frined gold ki price ka kuch andaza nai hota baz okaat gold ki price boht tezi se oper chali jati hai aor baaz okaat gold ki price boht tezi se neche aa jati hai. is liye gold pe trading karte hove kafi ehtiyt karni chaye

Gold ka 1 bahut strong resistance lagta hai 1550 pe...waise to is point kop todna thoda mushkil hai lekin agar gold iske upar nikal gaya to fir iska down trend itnio easily nahi aayega..

Elliott: extension wave down 1704.57
One more dip to 1710.45 is likely followed by a grind higher to 1727.64. After which it can resume its downtrend.
Technical points
Key point 1,715.3000
Entry point 1,720.3100
Elliott 1,733.9600
Closing 1,715.9100
Projection 1,708.3100
Trendline 1,728.0500
Trendline 1,722.1400
Supports / Resistances
Res 2 1,739.3800
Ex-High 1,728.0500
Res 1 1,727.6400
Pivot 1,716.3200
Sup 1 1,704.5800
Ex-Low 1,704.9900
Sup 2 1,693.2500

Gold has been consolidating at a given range span between 1707 to 1730 per troy ounce respectively. i still await an entry point when it will be bullish and test the all time high standing at 1800 dollars per troy ounce.

The prices of gold went down along with the direction of equity markets, however, were supported by the growing tensions in the Middle East and the fears of financial crisis in the U.S. The December futures price of gold fell to 1704.50 dollars per ounce, yet snap back to 1714 per ounce closeк to the end session on COMEX today.

Gold was far from the lows to the south, from further decline separates price support in 1709, but most likely it will be broken (and I and selling), while overcoming the mark in 1709 will open a lot of potential - the price can go down to 1675.

the price of gold shows a slight downward tendency since the morning, and now settles near 1710.00, while we still need to further confirmation of the destination following instantaneous rate, by monitoring the disposal price levels for whose support is pivotal 1710.00 and 1721.00 resistance