Thread: Gold
GOLD (Spot) intraday: the downside prevails.
Pivot: 1449.00
Our preference: SHORT positions below 1449 with 1419 & 1404 as next targets.
Alternative scenario: The upside penetration of 1449 will call for a rebound towards 1462 & 1476.
Comment: as long as the resistance at 1449 is not surpassed, the risk of the break below 1419 remains high.
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Gold fell close to 1.5 percent on Friday due to a sharp rise in the dollar against the Japanese yen triggered technical selling, carrying precious metals to two-week lows.
Gold posted a weekly decline of 2.5 percent due to the continued outflows in gold-backed exchange-traded funds is more than the demand for physical purchase retail selling historically followed in mid-April.
Gold fell for a second day as the yen fell to its lowest level against the U.S. dollar more than four years, a day after the U.S. currency's rise above 100 yen level. Rally in the dollar also weighed on industrial commodities led by crude
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Gold pivot levels by using fibonacci pivot indicator.
r3: 1485.63
r2: 1469.42
r1: 1459.41
pivot : 1443.21
s1: 1427.00
s2: 1416.99
s3: 1400.79
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is ka bhot acha threand 1556 mila ha is point pr is men thread ke jay tu mujy yaqeen ha ka ya hum ko profit dy ga na ka loss sary dosto ko try krna chay
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GOLD,H1
Date 2013.05.13
Time 03:00
Spoiler:
Open 1437.32
High 1438.55
Low 1436.34
Close 1437.64
Volume 955
SMA(5) 1441.74
SMA(10) 1436.39
SMA(20) 1441.80
SMA(50) 1456.16
SMA(100) 1457.81
SAR 1425.55
Indicator window 1
Stoch(5,3,3) 28.9852
Signal 59.9845
Indicator window 2
RSI(14) 42.8949
Indicator window 3
MACD(12,26,9) -4.934
Signal -7.069
Indicator window 4
%R(14) -40.8797
based on combination of indicators above,
trend : NEUTRAL
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gold the pair can not close up the broken down trend line
I see the pair will go to down way to 1439.86
so our target sell from 1442.36 and our target will 250pips
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Gold:
Pinbar?
Outside BB?
Stoch oversold?
Whats next? 1500?
http://postimg.org/image/6w6in78ul/
elliott curcial reversal point 1.510 it should test 1504 area after which a sell off down to 1331 or extended to 1485 area is expected
support and resistances
res2 1749
res1 1613
pivot 1467
sup1 1331
sup2 1122
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For long term i think it is still a good investment, and on charts i feel lower bound of hammer portion is formed, it is like to start a wild journey upward soon. But for short term traders gold seems to remain highly volatile and those have strong heart may invest with 100$ risk to either side. So trade in gold but never apply strict stop loss or use high leverage that may be risky.
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Presently gold moving in a range bound since 3 weeks. It is now moving in between 1420 to 1540 range for another 2 or 3 weeks. Major trend is down so, every trader can cautious with buy position. There is no problem for short sellers whose are selling about 1470 levels.
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