Gold

[hamza661]

As depicted here, intermediary support is provided by 1,680.00, followed by 1,672.00 level respectively, while strong support region is 1,630/40. Furthermore, 1,672.00 region is re-enforced by the 0.5 Fibonacci support for the upswing from 1,550.00 to 1,790.00 level. Intermediary resistance is at 1,720.00 level, followed by 1,755.00. It is recommended to stay long keeping the overall uptrend into consideration. A push through 1,720.00 and subsequently 1,755.00 level is expected into coming sessions. Looking higher from here on.

[winstead]

The movement of gold still can not get out of the pressure and still be slightly above the range of support 1684-1689. With some indications, gold is still possible to test the support level at 1684. Movement in the area of ​​support also provides an opportunity for potential rebound movement area approaching 1700.

[hamza661]

Gold markets did very little during the session on Friday as we continue to tread water around the $1700 level. Just below, we see quite a bit of significant support all the way down to the $1680 level, and as such we would be looking for some type of supportive candle like a hammer or a green one to start buying this market presently.

A long-term trend is far too bullish for us to start selling, and as you know by now we hold physical and ETF forms of gold also. Because of this, we are never actually �short� the market, and will only buy these futures contracts on signs of support or strength. We presently believe that we are in an area that could very well provide a supportive candle, and are simply waiting to see that in order to start buying.

---------- Post added at 08:43 PM ---------- Previous post was at 08:41 PM ----------

Gold was directionless and flat today, trading at 1697.35 moving between very small losses and gains. The gold was little changed at USD 1,696.96 an ounce. It rose and fell 0.2 per cent today and is down 0.4 per cent this week. Silver rose 0.2 per cent to USD 32.58 an ounce. Gold is set for a third weekly drop even after the Federal Reserve said it will start buying USD 45 billion a month of treasuries, adding to USD 40 billion a month of existing mortgage-debt purchases. US President Barack Obama and House Speaker John Boehner met to discuss averting more than USD 600 billion of spending cuts and tax increases before a year-end deadline, with no public announcement of progress. Holdings in gold-backed exchange-traded products rose 3.9 metric tons to record 2,630 tons. Prices are set for a 12th consecutive annual gain as central banks from the US to China pledge more steps to spur economic growth. The US Fiscal Cliff still looms large as democrats and republican bicker over tax increases and budget cuts.

[fanikakkoo]

Gold

The current trend downward trend 1530 targets and stop loss 1526 1542 if the price went to the highest point breakers 1542 the trend reversed to the upside targeting 1545 and then 1550

---------- Post added at 07:28 PM ---------- Previous post was at 07:07 PM ----------

Gold

Current trend jo hai woh upward trend pe hai aur jab target hai 1554 agar price niche ki aur gaya toh lowest point hai iska 1536, breaking the trend turn to the downside targeting 1531 then 1525

[Pioner3]

Gold has met its next level of support in the form of an inclined medium straight away price has strayed to the south but while shopping (and confirmation of growth) have to wait for consolidation above the horizontal level of 1700 only opens the way to 1719.

[niknik]

GOLD

“Viewed in light of the 3 wave advance from 1672.50, the trend is lower.” Friday’s JS Spike right at mentioned support (1685) will probably propel gold to at least the 61.8% retracement of the decline from the 11/12 high at 1727. There is trendline resistance to keep an eye on as well.

Commodity Trading Strategy: Previous comments were “look to short strength from 1727 to 1738 with a 1754 stop.” After today’s spike and reversal, gold might not reach 1727. Wait for at least a day for the near term pattern to clear up before jumping into something at a less than ideal level.

LEVELS: 1673 1683 1704 1727 1738 1754

[angle]

you know whhat guys i really enjoy trading gold as a commodity reason for this is that i find gold to be very expensive and when its that expensive then the outcome is also good.

[arshad701]

I think gold value was down significantly, now is reaching 1577.. it was a strong support from 6 month ago.. is it worth for buying now? or it will break the support point?

[hamza661]

GOLD (Spot) intraday: the downside prevails.
Our preference: SHORT positions below 1704 with 1689 & 1684 as next targets.

Alternative scenario: The upside breakout of 1704 will open the way to 1712 & 1722.

Key levels Comment

1722** Intraday resistance
1712** Intraday resistance
1704** Intraday pivot point
1695.16 Last
1689* Previous low
1684*** Horizontal support
1678* Intraday support

[erespe]

GOLD shows a bullish reversal after touched support level at 1688.79. We are now waiting for a lwma crossing confirmation to start buy. Once it confirmed, gold may rise towards 1711.00. But if there is no confirmation today, gold may fall to 1684.50