gold market analysis on 20.05.13 based on average directional movement index
adx : 33.6606
+di : 15.3333
-di : 12.4584
timeframe : 1 hour
time : 1300
Thread: Gold
gold market analysis on 20.05.13 based on average directional movement index
adx : 33.6606
+di : 15.3333
-di : 12.4584
timeframe : 1 hour
time : 1300
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Pivot levels today:
R3: 1418.22
R2: 1405.48
R1: 1348.87
PP: 1372.13
S1: 1351.52
S2: 1338.72
S3: 1318.17
Comment: Price now is below the daily and weekly pivot levels, also it is below the 55 SMA, so more fall is expected.
Forecast: Price may fall to 1338.72.
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Gold is facing heavily selling pressure on each rising until unless it goes above $1375 trader should stay in short position for a target of $1340 and then $1325. Long term traders should hold it till $1200 to make a bigger profit in single trade.
gold were joint comm ccy to upside move.. as us index moving avergence with gold.I think today, GOLD will continue bearish with a target to the 1628.05 level. If possible, the best price to start a short position is when the price up slightly to a level 1641....................
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Gold pivot levels by using fibonacci pivot indicator.
r3: 1406.77
r2: 1392.40
r1: 1383.52
pivot : 1369.14
s1: 1354.77
s2: 1345.89
s3: 1331.51
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GOLD (Spot) intraday: under pressure.
Pivot: 1370.00
Our preference: SHORT positions below 1370 with 1335 & 1322 in sight.
Alternative scenario: The upside penetration of 1370 will call for 1393 & 1407.
Comment: gold prices are capped by a negative trend line.
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Gold analysis for 05.20.2012 by using pivot indicator.
r3: 1427.77
r2: 1412.83
r1: 1399.20
pivot: 1384.26
s1: 1370.63
s2: 1355.69
s3: 1342.06
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I see the pair will go to down way to 1317.59
so our target sell from 1346.57 and our target will 2413pips
Good luck
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GOLD,H1
Date 2013.05.20
Time 03:00
Spoiler:
Open 1348.04
High 1348.59
Low 1337.84
Close 1346.41
Volume 1559
SMA(5) 1350.59
SMA(10) 1357.12
SMA(20) 1367.63
SMA(50) 1378.60
SMA(100) 1400.38
SAR 1365.36
Indicator window 1
Stoch(5,3,3) 27.0086
Signal 23.9555
Indicator window 2
RSI(14) 30.9752
Indicator window 3
MACD(12,26,9) -9.322
Signal -6.937
Indicator window 4
%R(14) -81.0146
based on combination of indicators above,
trend : BEARISH
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elliott crucial pointt 1445 it should test 1504 area after which a sell off down to 1331 or extended to 1185.51 area is expected
support and resistancesc
res2 1749
res1 1..613
piovt 1467
sup1 1331
sup2 1185
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