Thread: Gold
1H Chart.* Gold was trying to get out of the triangle formation down, but it failed and returned to the metal boundary formation.* Probably the most growth will occur and the rebound from the top of the triangle, and then will start and a break-down of deep decline in gold.* An alternative scenario is a breakdown in the upper level of 38.2 Fibo to test the upper limit of the upward channel at + -1395.
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Gold resistance 1382.70 and 1389.30(main),where correction is possible. close above this two level will lead to 1397.10, and 1406.20. If a strong impulse we would have 1417.63. Continuation would bring 1438.41.
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The Gold In line 4H There are two consecutive summits
every top of the low of her pervious summit is
an indication of the low is uncertain,
and I expect his arrival to the resistance line at
the point of 1375.86 and selling at this point
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Daily pivot Fibonacci points: Resistance levels: R1: 1375.67 R2: 1380.56 R3: 1385.12 Support levels: S1: 1360.65 S2: 1355.67 S3: 1350.00
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I'm still do not understan, why the news from USA media is trusted??. we know the USA media is full of lying...Originally Posted by Omtrader
USA media is untrusted and baseless...
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Gold again is testing the horizontal resistance 1376 (top of a zone of resistance 1376-1383), while there is a good chance from the rebound in 1376 with a yield of 1335, I do not think that the bulls have the strength to break through the 1376 + the first time this break will little growth potential as both at the top of another strong resistance of 1383 (one month maximum).
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Unemployment claims have just been released!
The forecast was 329k, we achieved a value of 336k.
Worst than expected results! Which may weaken the USD.
expect gold to move up some more, most likely to the daily r2
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As you see in my following chart, the price of the gold traded between a high of 1379 and a low of 1360, closed at 1366. Today the metal trades below the resistance line of 1385.
Downside Scenario: As long as the Gold remains below the resistance line of 1385, a decline is likely to be seen into the levels of 1348, then 1336.
Upside Scenario: If the metal penetrates above the resistance line of 1385, this could send the metal to the levels of 1397, then 1410.
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gold technical analysis by using : average directional movement index wilder(14) & average directional movement index(14) on 22.08.13
timeframe : 1 hour
time : 1500
market trend : ranging
adx wilder(14) level
style : 16.01
+di : 25.46
-di : 14.44
adx(14) level
adx : 25.21
+di : 23.63
-di : 11.07
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Gold price already touched daily pivot point (1368.36). Now the pair price try to move down ward. I think the price may touch Fibo 23.6 level.
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