empty
 
 
13.08.2015 02:19 PM
Gold analysis for August 13, 2015

This image is no longer relevant

This image is no longer relevant

Overview:

Since our last analysis, gold has been trading upwards. As we expected, the price went to test the level of $1,126.59. According to the daily time frame, we can observe a strong demand in a volume above the average. The price finaly broke our resistance at the level of $1,115.00. According to the H1 time frame we can observe that our resistance at the price of $1,115.00 now acts like support. I found strong upward trendline and the price respected well that trendline, which is a sign that buyers are in control and that we may expect bullish movement. I placed Fibonacci retracement to find potential resistance levels. I got Fibonacci retracement 38.2% at the price of $1,127.00 (successfully held), Fibonacci retracement 50% at the price of $1,141.00, and the Fibonacci retracement 61.8% at the price of $1,157.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,126.05

R2: 1,131.85

R3: 1,141.10

Support levels:

S1: 1,107.40

S2: 1,101.65

S3: 1,092.35

Trading recommendations: Be careful when selling gold at this stage. Watch for buying opportunites. Area around the price of $1,114.00 looks like very strong support and a good buy zone.

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