empty
 
 
26.09.2011 03:23 PM
Gold: analysis for December 31, 2013

This image is no longer relevant

Overview:

Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,194.68 on low volume and that is the reason why we saw the small upward correction and the testing of 1,206.13.We can observe that supply on high volume has entered the market at 1,206.00, so the level of 1,206.00 may be the point for further bearish continuation.We can also see decreasing volume on upper legs which is good sign for further bearish continuation.We may see testing of previous swing lows at the price of 1,192.00 and 1,187.00.Do not forget, Gold is in the bearish trend so buying looks very risky. Watch for selling opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,209.31

R2: 1,213.75

R3: 1,220.93

Support levels:

S1: 1,194.95

S2: 1,190.51

S3: 1,183.33

Trading recommendation: Trading the metal, be careful with short-term buying and look for selling opportunities.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $6000 more!
    In December we raffle $6000 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
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback