empty
 
 
04.06.2013 01:52 PM
Gold structure remains constructive above 1,370.00

This image is no longer relevant

Technical outlook and chart setups:

The yellow metal is holding the short-term immediate line of support as depicted here. It is recommended to hold long positions for now, since the overall structure remains constructive for bulls; a possible 3 wave pullback is under way towards 1,500/20 levels. Immediate support is at 1,370.00, followed by 1,360.00 and 1,340/20; while resistance is at 1,440/50, followed by 1,488.00 and higher up. Till the time Gold stays above 1,370.00; i.e above the immediate line of support, we are looking higher for the metal and bulls shall remain in control. The minimum extensions are pointing towards 1,520.00 levels at least, which is also past support turned resistance.

Trading recommendations:

Remain long, stop is at 1,369.00, and target is open.

Good luck!

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback