Thread: Gold
analysis for today 5 / 6 / 2014
GOLD (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 1309.21
Retracement (50%) 1307.32
retracement (61,8%) 1305.43
Extensions (61.8%) 1325.23
Extensions (100.0%) 1331.35
Extensions (138.2%) 1337.47
Extensions (161.8%) 1341.25
calculation based on a Fibonacci retracement then today I choose buy
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On the daily charts, gold was higher and broke through the $1300 psychological barrier resistance, but then the gold rally at the 50 day moving average at around $1316.11 has encountered resistance, gold is still in testing the resistance.
Days, support near $1300.12 200 day, 5 day and 10 day moving average cross, 100 day moving average at the subsequent near $1284.60; 50 day moving average resistance near $1316.11 and $1320.81, stronger resistance at 1588.61-1180.21 near $61.8% Fibonacci retracement of the $1335.26.
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GOLD
analysis for today 5 / 5 / 2014
Resistance 3 1374.11
Resistance 2 1336.61
Resistance 1 1317.86
Pivot Point 1299.43
Support 1 1290.55
Support 2 1271.80
Support 3 1232.90
BUY STOP 1317.86 STOP LOSS 1290.55 TAKE PROFIT 1336.61
SELL STOP 1290.55 STOP LOSS 1317.86 TAKE PROFIT 1271.80
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daily analysis for GOLD
gold crucial reversal point 1285.35, new daily high close to first daily resistance 1313.93
Elliott 1264.12
Closing 1298.35
Ex-Low 1264.12
Ex-High 1304.60
Support 1 1273.44
Support 2 1248.55
Resistance 1 1313.94
Resistance 2 1329.52
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analysis for today 5 / 5 / 2014
GOLD
Resistance : R1 1308.61 R2 1318.06 R3 1336.81 R4 1374.31
Support : S1 1299.80 S2 1290.35 S3 1271.60 S4 1234.10
Open : 1299.43
High : 1309.10
Low : 1299.31
Range : 979 Pips
Running Price : 1304.99
Strategy : BUY at the level 1304.99 stop loss at the level 1299.80 target take profit at the level 1336.81 or at the level 1374.31
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Daily technical analysis for GOLD
Gold looks set for gains to 1313.93. Supports at 1281.24 and 1273.45. A break of 1248.54 will damage this bullish structure.
Key Point 1312.35
Entry Point 1288.23
Trendline 1 1284.79
Trendline 2 1284.79
Support 1 1273.45 Support 2 1248.54
Resistance 1 1313.93 Resistance 2 1329.51
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On the daily and mid-term, as you can see the most recent bottom has been formed on 28th June 2013 at $1180.34, thereafter on Decemnber 13th 2013 the price has tried once more to overcome and break it below but failed and have been supported by buyers and caused it to climb again. The upward movement which was formed as an impulse was able to break above the bearish mid-term trend line and formed a top above it. We can see that every time for the correction move as a reversal the price has tried to cross $1280 below, the buyers has supported it from falling more strongly and it appears to be a serious problem for sellers to cross the area. Therefore, as the long-term fourth correction wave completes we are expecting that crossing $1330 again
will provide the climb arrangement for the wave to $1550 and then $1637 mid- term. In terms of time the arrangement should be set between 7th to 20th may 2014.
http://forex-fa14.blogspot.de/
Continue to hold the 1268 support, and return to the $1300 mark, the downward trend of recent is expected to come to an end, or try to rebound. The resistance at 1316 to the $1322 area, if we can break through this gold further rise to $1355 a chance. Below the support at 1285, below the trend will restore the pressure, and if the fall of 1268, it will open up more space down. Expected short-term possibly in 1290 to 1322 between on and off, probably after brewing further upward trend.
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On the daily charts, gold last Friday rebound again in the $1300 mark of the 200 day moving average resistance, the current price has become a strong resistance.
Days, support near $1293.94 5 day and 10 day moving average cross, 100 day moving average at the subsequent near $1284.60; resistance at the 200 day moving average near $13060.93 and $1320.81, stronger resistance at around 1588.61-1180.21 $61.8% and $1335.26 examples of callback.
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Weekly analysis for Gold
Gold flat correction up 1314.45, No Pivot Points have been reached.
Elliott 1264.12
Closing 1298.35
Ex-Low 1264.12
Ex-High 1306.57
Support 1 1272.78
Support 2 1247.24
Resistance 1 1315.25
Resistance 2 1332.15
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