empty
 
 
08.12.2014 02:27 PM
Gold : analysis for December 08, 2014

This image is no longer relevant

This image is no longer relevant

Overview :

Since our last analysis, gold has been trading downwards. As we expected, the price tested and rejected from the level of 1,186.03 in an ultra high volume. Our Fibonacci expansion 100% at the price of 1,186.00 held successful, which is a sign that selling looks risky. My advice is to look for buying opportunities near the lows (after retracement). Any larger reaction from buyers may confirm further bullish continuation. We got resistance level at the price of 1,220.00 (swing high like resistance). According to the 4H time frame, we got selling climax and a potential end of the bearish corrective phase (abcd).

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,191.67

R2: 1,192.83

R3: 1,194.70

Support levels:

S1: 1,187.93

S2: 1,186.77

S3: 1,184.90

Trading recommendations: Watch for potential buying opportunities after retracement (buy on the lows).

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