Gold

[ashaab]

Gold rebounded to the upside to currently trade in areas above 1561.00, which might trigger the suggested incline , where wave (B) might be completed and now the bullish wave (C) might lift the metal towards 1582.00. Consolidation above this level might trigger another bullish attempt towards the second target of the harmonic pattern. We negate our suggested incline once the metal settles below 1529.00.



Recommendation : Based on the charts and explanations above, our opinion is buying gold with 4-hour closing above 1561.00 targeting 1582.00, 1599.00 and 1608.00 and stop loss with 4-hour closing below 1529.00 might be appropriate

[nurdiantofxwave]

gold had retraced up from yesterday lowest price and had break up monthly support 3 level (1551.67). i think movement of gold prices may not decline again because of being located in around monthly support 3 level and price could have retraced up from oversold area in mbfx indicator.

[yogesh]

Before 9.30 p.m. gold kept on trading bearish sideways upto little above 1530 and fortunately this support worked and made a good recovery and currently trading little 1560, hope this trend continues tommorow and hopefully it shall be targetting 1600 level.

[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.