Gold edged higher with the beginning of 2015, and the upside move took it to trade above the resistance of the downside move and above Linear Regression Indicator 34, while trading above them is positive. In fact, trading above 1181.85 is positive this week and stabilizing above it triggers a new attempt to breach 1213.05 and move towards 1238.25 again.
From the downside, breaking 1181.85 and stabilizing below it pushes the price towards 1159.20 at least, and breaking this level gets the price into a new bearish wave that targets the previous bottom 1131.40. | |||||
Subscribe For Constant Updates!
Subscribe to the Technical Portal to continue to access the latest updates, market recommendations and a wide variety of technical reports Subscribe Now
| |||||
| Support | 1195.00 | 1190.00 | 1181.85 | 1168.00 | 1159.20 |
| Resistance | 1200.00 | 1205.00 | 1213.05 | 1220.00 | 1226.60 |
| Recommendation |
Positive expectations above 1195.00, risk-limit below 1180.00.
| ||||
Jan 5, 2015
May 9, 2014
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. | ||||
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.
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.
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.
Subscribe to:
Posts (Atom)