empty
 
 
17.01.2014 02:48 PM
GOLD: analysis for January 17, 2014

This image is no longer relevant

Overview:

Since our last analysis, gold has been trading upwards, the price tested the level of 1,244.90 on high volume.We can also observe that demand has entered the market at 1,237.50 which caused the price to start small bullish movement. If the price breaks the level of 1,245.00 on high volume, we may see re-testing of previous swing high level at 1.254.00. Next major upper stations are at 1,279.00 and 1,295.00 but just if price breaks level of 1,254.00 on high volume. Do not forget, gold is in bearish trend and we are now in bullish corrective phase.There is also a chance that we may see testing of levels around 1,232.00-1,227.00, before another bullish movement. Selling gold at this stage looks risky since gold is in progress of bullish corrective phase, and we saw demand on the high volume in the background. Watch for buying opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,244.16

R2: 1,246.24

R3: 1,249.60

Support levels:

S1: 1,237.44

S2: 1,235.36

S3: 1,232.00

Trading recommendation: Trading the metal, be careful with selling gold and try to catch bullish corrective phase.

Summary
Urgency
Analytic
Petar Jacimovic
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