Gold

[Aleksey]

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[houskod49]

Gold price fluctuates around 1245.00 and shows sideways and narrow range trading since yesterday evening, while SMA 50 continues to pressure the price, keeping the downside scenario effective for today, targeting the 38.2% Fibonacci retracement at 1229.32.

---------- Post added 06-22-2017 at 01:35 AM ---------- Previous post was 06-21-2017 at 03:20 PM ----------

The price of gold has not shown any strong movement since the morning to stay stable around 1245.00. Therefore, there is no change in the bearish scenario which depends on stability below 1254.56, supported by Stochastic reaching overbought areas now, At 1229.32.

[Aleksey]

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[shapon]

the current trade is downward 1526,initial support at 1490 followed by the range 1495 (76.4% retrace to 1462.25-1558.75) .initial resistance is now at 1526 followed by 1525 (june 14 to 23 high). so forex is gold .

[houskod49]

The price of gold reached a clear breach of 1249.94 and the daily candlestick closed below it, confirming the extension of the corrective wave to target the 1229.32 areas in the near term, indicating that this level represents a 38.2% Fibonacci retracement of the measured height from 1122.47 to 1295.37, The price on arrival, given its importance in determining the fate of the next price in the short term.

---------- Post added 06-21-2017 at 05:08 AM ---------- Previous post was 06-20-2017 at 02:41 PM ----------

The price of gold is trading slightly negative to settle near 1240.00. The corrective correction is valid for the coming period, awaiting the 1229.32 test mainly supported by the negative pressure formed by SMA 50, noting that the continuation of the suggested bearishness depends on the daily closing below 1254.56 .

[Aleksey]

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[houskod49]

Gold is currently trading negatively to test pivotal support 1249.94 again, while stability above this level remains bullish scenario for the coming period as breaching it will push the price to test 1229.32 before any new positive attempt.
The price needs to breach the levels of 1254.56 and 1263.00 to reinforce the expectations of the continuation of the rising wave which has its first main target at 1295.37.

[Aleksey]

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[houskod49]

The price of gold is showing some slight upward movement in an attempt to move away from 1254.56, which supports the continuation of the bullish scenario for the upcoming period, which depends on stability above the mentioned level, supported by Stochastic positive, waiting for the move towards 1281.00 initially.
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The price needs to surpass SMA 50, which constitutes an intraday resistance at 1266.00 to facilitate the move toward the awaited targets, noting that breaking the 1254.56-1249.94 level will press the price to extend its bearish correction towards 1229.32 as the next key target.
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The trading range for today is among the support at 1245.00 and resistance at 1281.00
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The general trend for today is bullish

---------- Post added 06-17-2017 at 06:33 PM ---------- Previous post was 06-16-2017 at 08:01 PM ----------

Gold is trading around the 1254.56 level, which is the first protection factor for the suggested positive scenario today. The bullish trend remains likely for the coming sessions, awaiting a positive opening next week towards 1282.00 and then 1295.37.
On the other hand, keep in mind that a break of 1249.94 will halt the expected rally and pressure the price to make further bearish correction over the intraday basis.

[Aleksey]

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