Gold

[ashaab]

The negative pressure is still seen on gold, yet we can see Stochastic attempting to crossover positively from oversold areas, in addition to the valid ZZ wave. We still see the possibility for gold to return higher to form the bullish C wave ; breaching areas of 1529.00 and stability below it can negate our positive expectations.



Recommendation : Based on the charts and explanations above, our opinion is buying gold around 1560.00 targeting 1582.00 then 1599.00 and 1608.00; stop loss with four-hour closing below 1529.00 might be appropriate

[delpacing]

These signals have emerged since the actual sale of gold failed to hold above the $ 1,600 resisntance importance. Selloff picked up steam when the euro currency continued to pressure yanhg ahead of the meeting will take place today.
The fall in oil prices and further aggravate the sentiment for gold. Oil prices likely to decline following the Iran and the UN had an agreement in nuclear talks.
If the European crisis worsens, it is difficult for gold to move up due to the movement of precious metals is currently under the direction of the euro. When the single European currency is weak, then the investor will release its gold assets. If there is a positive outcome at the meeting later, gold may rebound.

[manun]

gold is a costly metal .
it's have gd market.
it's make a gd profit who invest it.

[nurdiantofxwave]

Gold retraced up in europe session yesterday ,but in american session it can not afford to continue strengthening and finally had to drop down until now. Presently gold fell away from the dayly pivot point (1574.00) and now it movee down to support 1 level (1554.30) ,when the level is penetrated ,then price possibility going to week low support 3 level (1551.67).

[yogesh]

There are still hopes left for bulls gold has just touched 1661 and recovered few points and currently trading 1558.70 hope 1660 support is kept intact and we shall see a good pull back from here.

[ashaab]

Gold declined rapidly and currently trading below 1582.00 which weakens the strength of the upside wave yet does not negate it. We see that gold might be forming the internal bearish B wave of the Zigzag Wave (ZZ) wave that started from the trough of D point of the Deep Crab Pattern. We expect that trading above 1561.00 keeps the upside potential valid , yet stability above 1582.00 is needed once more to confirm our expectations.



Recommendation : Based on the charts and explanations above, our opinion is buying gold around 1582.00 targeting 1599.00, 1608.00 and 1616.00 and stop loss with four-hour closing below 1561.00 might be appropriate

[nurdiantofxwave]

Gold back down again to yesterday lowest price at 1584.10. Hma 32 as short term trend indicator had changed to red colour in asian session that indicates price can go down more but in medium term trend is bull (shown by hma 192). Price is in above dayly pivot (1584.70) now, if there are big selling pressure price can break this level then down until monthly support 2 level (1581.63). But,look at stochastic indicator signal h1 is try to move up so price may move retrace up.

[simpleforex68]

We can see in H1 chart, there is an uptrend line of the pair. There is also an uptrend on MACD indicator. So, I think these signals will be good condition for the price to be up.

[kawish44]

Today gold is trading 1592 US$.i think it will soon resume its position .just watch and observe sy movement of market .

[ashaab]

Gold declined slight, that was expected indeed, we can see the overbought signs on Stochastic and we expect the metal to retest the first target of the harmonic pattern explained in our weekly report at 1582.00 before resuming the upside move . Stability above 1561.00 is essential for our intraday positive expectations to remain valid.



Recommendation : Based on the charts and explanations above, our opinion is buying gold around 1582.00 targeting 1599.00, 1616.00 and 1640.00 and stop loss with four-hour closing below 1561.00 might be appropriate this week