Gold

Gold technical analysis for 12.10.2012 by using : Auto pivot indicator.

resistance 3:1790.47
resistance 2:1782.23
resistance 1:1774.27

pivot point :1766.03

support 1:1758.07
support 2:1749.83
support 3:1741.87

Gold prices barely experience any movement, maintaining strong gains in the previous session as the U.S. dollar weakened from 1-month high, but gold prepared to weekly fall.Although the sentiment is still pressing gold, but these assets are forming a pattern of minor uptrend since last month, appealing to in the event of minor accumulation pullback to the intersection of 5-10-20 days moving average. Entry: 1758, Target: 1807, Stop: 1740.

Spoiler:

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Bias is still neutral as long as price stay on
trading range around 1754 – 1770 area. Break
below 1754 area is needed to continue the
bearish bias targeting 1741 area. While a
break above 1770 area should change the bias
into bullish testing 1780 before targeting 1795
region.

Resistance Level : 1780, 1795, 1810
Support Level : 1754, 1741, 1728
Trading Range : 1754 – 1780
Trend : Neutral
Bias

Since asian market session opened ago until now, price still in between daily pivot and ressistance 1 level. Price form sideways pattern with range in 1768.10-1770.00. It estimated can rise agai in future because there is a bullish signal that indicates by hma 192.

Trend is expected today: UP

Region powerful today: 1766.00

The pair above 1766.00 to buy the following objectives 1772.00 then 1779.00

The pair down 1766.00 for sale the following objectives 1760.00 then 1754.00

I think the next direction of Gold is not clear enough. Gold still moving between the support and resistance level now.
So, if Gold can break 1778.97 resistance, Gold will go up to the next resistance level at 1796.41. But if Gold can break 1759.04 support level, Gold may falls to the next support level at 1740.05.

Narrow range regulates the movement of the price of gold since the morning, which makes us hold onto our recent list unchanged for the rest of the day.

Expected trading range for today is between: Support 1756.00 and resistance 1800.00

Gold is likely to experience a correction towards the support 1765.49 to 1762.17. If the range 1770.86 resistance survive and bearish signals appear in the area.

gold main kam karny sy hum bahot jaldi profit b kam sakty hain aur loss b magar gold main kam karna bahot mushkil hai is k liye hamain bahot sa balance chaye hota hai

Gold closed today near its low at 1753.1, this is also a negative weekly close. We may see more downside on monday, but for long term i dont think we should sell, bulls are just breathing and sooner or later we will breakout to the upside, next upmove should head to make new high.