News Date: 9/5/2014 07:32:40

News Date: 9/5/2014 07:32:40

The metal remained limited above 1285.10 yesterday keeping the positive expectations. We notice today a negative crossover on Linear Regression Indicators which contradicts with the positivity of stabilizing above 1285.10. We depended yesterday on achieving higher lows, however, as the price is stable above 1277.00 - 1276.00 strengthening the possibility of a bullish wave. Therefore, we will benefit from the appropriate Risk/Reward Ratios to suggest an upside move for today with the same stop-loss and break 1277.00. As soon as the stop-loss is achieved we will become negative. Breaching and stabilizing above 1300.00 levels is significant to confirm positivity today and the upcoming period.
Support	1285.00	1280.00	1277.90	1272.00	1266.55
Resistance	1293.00	1296.60	1300.00	1305.00	1309.35
Recommendation	Based on the above, long gold at 1290.00, targeting 1296.00, 1330.00, then 1309.00, and stop-loss below 1276.00. In case of stop-loss, selling gold below 1276.00 targeting 1266.00 and 1260.00 then 1250.00 with stop-loss above 1296.25 levels.

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gold for today

Main scenario:
The pair is trading along an sideways trend.
An uptrend will start from support levels 1289.50, which will be followed by moving up to resistance level 1294 and then to 1302.

Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1287, which will be followed by moving down to support level 1284 and then to 1277.

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Gold forecast 08.05.14

The metal dropped sharply yesterday after failing to remain stable above 1309.35 and achieved the stop-losssuggested in yesterday's recommendation, but failed to break below 50% correction at 1285.00 showing on graph. The downside move is only a retest to the bearish resistance level that started from the top 1387.00; as the price is close to 50% correction, we will bet today on an upside move only by counting on stability above 1285.00 and the referred to bearish resistance that was previously breached. On the above graph, we notice higher lows supporting our decision today of becoming neutral despite achieving yesterday's stop-loss of our buying position, but we will place stop-loss at 1276.00 and we will reverse our expectations to negative if achieved.
Support	1285.00	1280.00	1277.90	1272.00	1266.55
Resistance	1293.00	1296.60	1300.00	1305.00	1309.35
Recommendation	Based on the above, long gold at 1290.00, targeting 1296.00, 1330.00, then 1309.00, and stop-loss below 1276.00. In case of stop-loss, selling gold below 1276.00 targeting 1266.00 and 1260.00 then 1250.00 with stop-loss above 1296.25 levels.

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Gold forecast daily

 

Gold price’s trading settled below 1300.00 level as we mentioned in our last technical update, to delay resuming the overall bullish trend, and the trading is confined between the sideways range lines which are represented by 1277.60 support and 1320.00 resistance, and the price needs to surpass one of these levels to detect its next targets clearly.

Stochastic provides positive signals that supports achieving some bullish bias in the upcoming period, but we prefer monitoring gold price behavior according to the above mentioned levels to get clearer confirmation signals, pointing that breaking 1277.60 support will push the price to visit 1250.00 level mainly, while breaching above the resistance will open the way for targeting 1350.00 then 1400.00 levels initially.

Expected trading range for today is between: 1270.00 support and 1320.00 resistance.

Expected trend for today: Sideways

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Gold forecast 07.05.2014

Yesterday's volatility remained limited above Linear Regression Indicator 55, as we witness today a new attempt to confirm stability above 1309.35 levels. The metal should stabilize above the mentioned level 1309.35 in order not to form bearish corrections especially that RSI 14 and MACD are showing weakness. Generally, trading above 1300.00 is positive today while the overall upside move depends on stability above 1277.00. Of note, resistance levels 1318.10 and 1324.35 could be strong, so the metal should break above these levels to extend the upside move.
Support	1309.35	1305.00	1300.00	1296.25	1293.00
Resistance	1318.10	1324.35	1331.50	1339.75	1348.40
Recommendation	Based on the above, long gold at 1309.35, targeting 1324.00, 1339.00, then 13487.00, and stop-loss below 1296.00.

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Gold forecast

On the four-hour graph, we notice a positive crossover on Linear Regression Indicators accompanied by trading around 1309.35 represented in 38.2% correction of the bullish wave that started from the bottom 1182.00 reaching the top 1387.00. Stability above 1300.00 is positive; but because RSI touched line 70 then dropped, the metal should stabilize above 1309.35 to keep the bullish bias without any corrections. Generally, stabilizing above 1277.00 keeps the bullish possibility valid, but stability above 1285.00 is required to strengthen this possibility. Support 1305.00 1300.00 1296.25 1293.00 1285.00 Resistance 1315.00 1323.20 1331.40 1339.35 1347.20 Recommendation Based on the above, long gold above 1309.35, targeting 1323.00, 1339.00, then 1347.00, and stop-loss below 1296.00. Note: This is only to define the trend, for more details please visit theRecommendation section For more detail Please Contract 092 749966, 093 749966 lekchansour@gmail

GOLD, FORECAST , 06/05/14

Main scenario:

The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1303, which will be followed by reaching resistance level 1320.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1303, which will be followed by moving down to support level 1293.

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 lekchansour@gmail