empty
 
 
09.07.2014 05:29 AM
Technical analysis of Gold for July 09, 2014
This image is no longer relevant

Technical outlook and chart setups:

1. Gold continues to trade in a tight range between $1,308.00/10.00 and $1,330.00 as seen here. Possibilities remain that the metal may push further up to $1,356.00 levels before correcting itself. Recommendations are to exit short positions.

2. Support is seen at $1,260.00, followed by $1,240.00/30.00, $1,210.00 and lower while resistance is seen at $1,350.00/60, followed by $1,388.00 and higher up respectively.

3. The structure indicates that Gold could push higher till prices remain above $1,310.00 levels for now.

Trading recommendations:

Remain flat for now. Looking to buy lower.

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 $8000 more!
    In March we raffle $8000 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