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|||||||After yesterday's strong impulse to reduce the gold found its buyer in the long-term horizontal support level of 1643.38, near it price is consolidating all of the present and a little noticeable shift support area to the north, waiting for my entry point to buy, to reduce as it is not hard to believe.||||
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The forecast for Monday at Gold based on technical analysis, as predicted gold will decline this week, and is now at 1649.10. The forecast for today is expected that gold can rise in price until 1660, after which the decline resumed.
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I think the bullish movement is coming back from fibo 0.0 @1643 and it is expected to hit 1653 later. Meanwhile if the price change its direction and breakdown fibo 0.0 then the trend is back into bearish.
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all i can say is that when you are trading gold guys please try and be carefull of what you trade that way i know that i will make sure that i do tradevery well in themarket and make some protite.
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There is a bid down fall happened in this pair and it already break the support of 1652 and I think that the trend of down fall continuous today
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in the h4 time frame the pair is break the strong support at 1653.30 and it will moving down side. at the time stoch and cci are also oversold this will try to come out but may be not break the resistance. we can long this if price will close about the 1660.00
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Gold analysis for 02.12.2013 by using : pivot indicator.
r3: 1688.43
r2: 1678.67
r1: 1663.03
pivot : 1653.27
s1: 1637.63
s2: 1627.87
s3: 1612.23
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I don't know what happened to gold yesterday but i has slept very low its now trading at 1646 down from 1674 at the end of last week which is no good at all to people like us who have traded it and bought for it to go up i hope the up trend starts now
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sell gold at the level 1653.75 with targets at 1633.91 and 1622.24, but in case of breaking the level 1658.66, then buy above this level with targets at 1673.32 and 1684.00
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