ការវិភាគបែបបច្ចេកទេស

ការវិភាគបែបបច្ចេកទេស

The weekly chart shows the proposed Elliott count that has been respected as well as it seems that gold was capped out before1430.00 zones over short term basis, recording 1424.00 as an all-time high. The fourth wave is still in favor and thus, the bearishness might dominate the movements during this week, targeting 1291.00 as a first technical objective for this wave. Momentum indicators are still negative, supporting our outlook. A daily closing above 1395.00 will weaken this scenario and we recommend following us in the upcoming reports to study the internal structure together.

The trading range for this week is among the key support at 1291.00 and key resistance now at 1406.00.

The general trend over the short term basis is to the downside, targeting $ 1208.00 per ounce as far as areas of 1465.00 remain intact.

Previous Report



Support 1358.00 1350.00 1339.00 1330.00 1320.00
Resistance 1372.00 1380.00 1385.00 1395.00 1406.00
Recommendation Based on the charts and explanations above our opinion is, selling gold around 1370.00 targeting 1291.00.00 and stop loss with a daily closing above 1395.00 might be appropriate.