Gold

elliott flat correction down 1274 it may attempt a test higher to 1286.44 - 1290.47 after which weakness may set it to a drift down to below 1276.13 limit
support and resistances
res2 1296.76
res1 1290.47
piovt 1.282.41
sup1 1276.13
sup2 1268.07

story remains the same test of 1300 area but no break slow momentum NO volume behind the bull moves short covering before next move or bull trap But This makes 1266 area even more stronger Now I expect 1300 and 1321 area capped the pair for a break below 1266 and then we should go bang for the new lows

check the chart
regards
http://i1292.photobucket.com/albums/...pse7e8e0d7.png

Gold long term maine trend bearish hy price are currently testing 1295/1300 any break of 1300 will b give touch 1320 and 1340, next strong resistance is 1340 if market hold it and rejected it we will enter from 1340 for short position and target will b 1300 and 1265

gold last day market analysis by using : average directional movement index wilder(14) & average directional movement index(14)

adx wilder(14) level

style : 32.97
+di : 26.31
-di : 9.21

adx(14) levels

adx : 36.14
+di : 19.67
-di : 6.07

date : 20.07.2013
timeframe : 1 hour

the gold rates today bid rate are 1295.52 and ask rate is 1296.12

http://charts.mql5.com/2/80/gold-h1-...orex-group.png


how are you

we can see in the 1h chart
the pair can close up the up trend line
i see the pair will go to up way to 1297.52
stochastic refers that the pair will go up
so our target buy from 1295.52 and our target will 200pips

hi;;;

we can see in the m15 chart the pair will go down to fibo 38.2 I see the pair will go to down way to 1290.97 rsi refers that the pair will go down so our target sell from 1295.52 and our target will 455pips


http://charts.mql5.com/2/80/gold-m15...orex-group.png

http://charts.mql5.com/2/81/gold-h4-...orex-group.png


we can see in the 4h chart
i see the pair will go to up way to 1297.52
rsi refers that the pair will go up
so our target buy from 1295.52 and our target will 200pips


:respect::peace:

http://charts.mql5.com/2/81/gold-d1-...orex-group.png


time frame daily chart
the pair will go up to fibo 38.2
I see the pair will go to up way to 1352.19
rsi refers that the pair will go up
so our target buy from 1295.30 and our target will 5689pips

Good luck

1300 is providing enough resistance to the pair since last week and above 1321 can provide resistance to
the gold to break below 1260 and then final powerful leg to the downside and Long term bottom will placed so watch the level carefully
regards
check the chart

http://i1292.photobucket.com/albums/...ps081e9e9d.png