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Thread: Gold analysis By Instaforex

  1. #11
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    Overview:
    Since our last analysis, gold has been trading sideways around the level of $1,202.00. According to the daily time frame, we can observe a supply in a high volume but with very weak price action (weak supply). Our Fibonacci retracement 61.8% (support) at $1,174.00 was held successfully. It caused the price to start an upward movement. Major resistance is seen around the level of $1,220.00. The short-term trend is neutral. According to the H4 time frame, we can observe supply in an average volume but with weak price action. I had placed Fibonacci expansion to find potential resistance levels and got Fibonacci expansion 61.8% at $1,225.00, Fibonacci expansion 100% at $1,256.00, and Fibonacci expansion 161.8% at $1,306.00. I had also placed Fibonacci retracement from the most recent upward leg to find potential support levels and got Fibonacci retracement 38.2% at $1,200.00 and Fibonacci retracement 61.8% at $1,190.00.

    Trading recommendations:
    Watch for potential buying opportunities after bearish correction. The first major resistance is around the level of $1,224.00.
    Gold analysis By Instaforex-goldh430-png

  2. #12
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    Aug 2014
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    924

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    Overview:
    Since our last analysis, gold has been trading downwards. The price tested the level of $1,210.84 in a high volume. We can observe demand in a high volume but weak price action in the daily time frame. The short-term trend is bullish. The first major resistance at the level of $1,220.00 is on the test. If the price breaks the level of $1,220.00 in a high volume and strong price action, we may see possible testing of the level of $1,250.00 (Fibonacci expansion 100%). Be careful when selling and watch for potential buying opportunities above the price of $1,220.00. I found support area around the levels of $1,210.00-$1,214.00

    Trading recommendations:
    Be careful when selling gold at this stage and watch for potential buying opportunities (buy on dips).
    Gold analysis By Instaforex-golddaily15-png

  3. #13
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    May 2015
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  4. #14

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    Gold prices have fallen a bit and there no positive signals it better to wait for any buying options.

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100, analysis, average, eur, fibonacci, gold, high, high volume, instaforex, intraday, level, low, nzd, price action, resistance, support, time, trading

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