Gold

[tradergalau]

There was not a significant movement of Gold until now. But I think Gold still in bullish sentiment and moving above the 1719.66 support level. So, I still expect Gold will go up and may touches or hits the resistance level at 1740.05 or even higher.

[winstead]

Gold is still trying to break into a strong fortress at 1737 price levels. Break up the price of gold will go to the range 1755. Suspended those levels then gold will correct to the nearest level before rising again, which will target level price range 1723-1717.

[VANDA_S]

In M30 chart price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
21 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Target: 1732/1736

[yudi]

Gold is trading with uptrend and uptrend may continue and will face resistance at 1690 if broken then pair will cross 1720 but some correction is expected...

[ahmed fakhry]

The agreement on the end of fire in the Middle East has not been reached, and this problem supported the gold prices today as remained safe-haven asset. The December futures price of gold on the COMEX grew to $1731.60 per troy ounce today.

[ddukic]

Gold 21/11/2012 - 4h Chart Analysis



GOLD 4 HOURS CHART

SUGGESTIONS: This is a complicated chart because it includes many technical elements. In my opinion, most of them are necessary. So, please be patient.

So, re-entering and staying in the D1-D2 channel will oblige the opening and relative maintenance of short positions. In the contrary sense, the respect of the u1-u2 blue upwards channel by the price, will oblige us to keep opened the eventual long positions already running and slightly increase the present long exposure.
There are many analysts talking about the correlation between the USD and Gold. Please read the relative article in fxlisting.net.

Thanks

---------- Post added at 11:33 AM ---------- Previous post was at 11:33 AM ----------

Gold 22/11/2012 - 4h Chart Analysis



GOLD 4 HOURS CHART

SUGGESTIONS: It is not safe to forecast the Gold’s price evolution during the Thanks giving day in the USA.

Nevertheless, the main question is: Is the correction, from 1.795 usd level to the one of 1.689 usd, a “pull back” or the “A” leg of a major correction to be followed by the “B’ and “C” legs so to fulfill Elliott’s theory about corrections composed by three legs, “A-B-C”?

The correction on the 0.38 ****e of a Fibo Retr scale does not clarify the evolution. The previously observed long term increase of the Gold’s price can easily accept as “pull back” a correction up to the 0.38 ****e of the relative Retr Fibo scale.

Anyway, the long positions should remain opened. The u1-u2 up channel is respected and the price is hovering above the tandem of the two SMAs, the 50 and 200 periods, promising further up movement provided the 1.733 usd level is crossed from below.

“Bears”, please stay away. Is not your time, unless you can masquerade in “Bulls”.

[forexking2]

Gold also on still look to probably more bulls. On my see price on try to re-test again to near that strong supply zone at 1737.73. So, search for buy but with target profit before the price 1737.73 = better.

[Bieela_cute]

Scenario for today
Elliott: flat correction down 1716.74
It may attempt a test higher to 1730.36 - 1734.21 after which weakness may set it to a drift down to 1720.93 limit.
Technical points
Key point 1,730.0400
Entry point 1,730.1500
Elliott 1,735.7500
Closing 1,728.6300
Projection 1,724.0000
Trendline 1,732.0900
Trendline 1,728.4300
Supports / Resistances
Res 2 1,739.7900
Ex-High 1,732.0900
Res 1 1,734.2100
Pivot 1,726.5100
Sup 1 1,720.9300
Ex-Low 1,718.8100
Sup 2 1,713.2300

[romannil]

Gold technical analysis for 22.11.2012 by using : Auto pivot indicator.

resistance 3:1744.23
resistance 2:1737.87
resistance 1:1733.13

pivot point :1726.77

support 1:1722.03
support 2:1715.67
support 3:1710.93

[winstead]

Gold touch support in the range of 1722. While this level of 1722 is a strong support. If gold continues to survive, the price of gold will return to near resistance around 1739.