GOLD trading recommendation

GOLD - H4 chart

Gold is in bearish mood. Further decline is the most probable scenario now. If it closes below 1176.75, set your targets to 1170.50 and 1160 next. If Gold chooses this option, keep your stop loss tight when it reaches 1165 level.
I wouldn't recommend buying now, but if it remains above 1176.75, it's possible that it gains up to 1187. There's nice retracement level, where the good oportunity for opening short position occurs. If it fails to break 1187 level set targets 1176.75 and 1170.50.

GOLD - H4 chart

GOLD	Trading conditions	Targets
SELL	Sell when Gold closes below 1176.75	T1 1170.50 T2 1160
SELL	Sell if it gains but fails to break 1187 level	T1 1176.75 T2 1170.50
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GOLD trading recommendation

GOLD - H4 chart

Gold remains in the narrow consolidation zone, still being undecided which direction to choose. If it breaks above 1201 resistance it should gain up to 1213 and 1220. If it fails to break this line and falls below 1192 support and breaks the current uptrend line, the way towards 1186 and 1176 is open

GOLD - H4 chart

GOLD	Trading conditions	Targets
BUY	Buy after breaking above 1201 level	T1 1213 T2 1220
SELL	Sell after breaking below 1192 level and current uptrend supportive line	T1 1186 T2 1176
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GOLD - weekend review and trading plan

GOLD - Daily chart

Gold has reached the major resistance at 1354 level. Now it looks like that it can expand its downward movement.

GOLD - Daily chart

GOLD - H4 chart

Gold is still moving within uptrend channel. After hitting resistance at 1354 it's strongly declined and formed double top. I expect it'll decline more this week. Although now it's moving up, I think that around 1345 it'll bounce down. My trade plan is to set sell position near that area with 1331 and 1320 as targets.

GOLD - H4 chart

Trade recommendation
Sell around 1345  Target levels: T1: 1331 T2: 1320 Current support levels 1330 1319 1308 Current resistance levels 1345 1354 1374

What about GOLD? Trading recommendation

GOLD - Daily chart

Gold failed to break above the downtrend channel. It bounced from 1267 resistance and returned below the trend line. Now it's heading towards 1231 and if decline continues it should hit 1218.5 level.

GOLD - Daily chart

GOLD - H4 chart

Gold is still in the uptrend, but last declines suggest that this wave may be over. At the end of the week it hit the uptrend line. The support at 1237.50 was defended, but I expect it'll be broken very soon. So, in this week I predict downward movement towards 1228 and 1218.50.

GOLD - H4 chart

Trade recommendation
Sell limit around 1248.50 or sell when it breakes bellow 1237.50 Target levels: T1: 1228.50 T2: 1218.50 Current support levels 1237.50 1228.00 1218.50 Current resistance levels 1254.50 1267.00 1278.50

GOLD - trading recommendation. Technical analysis (Weekly, Daily, H4)

GOLD - Weekly chart

Gold arrived at 1630 support level. Long term uptrend line and major support at 1600 are also very close. Upward bounce in the comming weeks looks very likely.

GOLD - Weekly chart

GOLD - Daily chart

The rate is moving in the downtrend channel. After hitting support at 1619 it bounced up and stopped at 1645.

GOLD - Daily chart

GOLD - H4 chart

After strong decline last week the rate bounced up. It was stopped on the short term downtrend line and consolidated in the 1636.85 - 1645.00 zone. If it break the resistance at 1645.00 and the downtrend line it should start its movement up to 1660.00 level. 

Another scenario will take place if the rate breaks the support at 1636.85 and short term uptrend line. Then we could expect decline to 1630 and 1617.75 further.

GOLD - H4 chart

Trade recommendation
Buy after closing above 1645.00 Target levels: T1: 1654.00 T2: 1660.00 Sell after closing below 1636.85 Target levels: T1: 1630.00 T2: 1617.75 Current support levels 1636.85 1630.00 1617.75 Current resistance levels 1645.00 1654.00 1660.00

SILVER follows GOLD 03.01.2012 - technical analysis and trade recommendation

Silver rate moves in a downward trend in close correlation to gold rate. This is evident not only in the direction of the trend. Also the time of formation of individual valleys and peaks of this pair is closely correlated (marked with ellipses and the vertical lines in the image ). In the Forex market, such correlation can be observed frequently. In the attached charts (Comparative Analysis of Gold / Silver) you can see it clearly. In the previous analysis assuming growth I presented scenario of the expected gold rate movement . Upward movement become a reality, and as you can see the silver price in this case retains the full correlation.

Comparative Analysis of Gold / Silver charts

Analyzing the current situation, I assume that in the near future silver will remain under the influence of growth sentiment. In the chart below I present a suggested scenario. 

Silver rate - analysis and trade recommendation chart

The rate hit the level of 29.75. Now the growth should slow down a little. Downward correction is also possible, but the rate should remain over 28.75. I expect another growth soon. This movement should rise to 30.00. There we can expect some resistance, however, it should be broken, opening the way for further growth. The target for this movement is the level of 31.00.

Trade recommendation: Buy after closing above 30.00 Take profit levels: Target 1: 31.00

GOLD 30.12.2012 - technical analysis and recommendation

Gold hit the long term uptrend line at the major support 1532.50 level. Then it bounce up forming candle with long lower shadow. We should expect some further growing now.

GOLD weekly

At the daily chart we can see that the long lower shadow candle has been recently formed. Now the strong bullish candle is rising. The closest resistance is on the 1579 level.

GOLD daily

On the 4-hours time frame gold rate has just crossed over the downtrend line. Now we should wait for the confirmation by closing above 1579 (closest resistance level). Then the rate has the open way to rise to 1625.

GOLD H4

Trade recommendation: Buy after closing above 1579 Take profit levels: Target 1: 1625 Target 2: 1665