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
|
Current resistance levels
|
|
|
Technical recommendation in Gold Trading is one of the key to be a successful Gold Trader. This means that you should work hard to succeed in this type of business.
ReplyDeleteall trader must be hard to work to achieve a success in forex trading. i like trading especially at the news are release. for trader who like trade with news, I recommend trading in armada markets. armada markets provide excellent service in the execution speed and the small spread compared to other brokers
ReplyDeleteThe other you will be get 15 Euro Free
echnical recommendation in Gold Trading is one of the key to be a successful Gold Trader. This means that you should work hard to succeed in this type of business.
ReplyDelete