empty
 
 
14.11.2014 06:18 AM
Technical Analysis on Gold for November 14, 2014

The yellow metal has been trading in a tight range. The prices break below the symmetric triangle, height is at $46. Ahead of US core retail, retail sales, and consumer sentiment data, the metal looks weak. We recommend fresh selling below $1,157.00 with the targets at $1,154.00, $1,150.00, and $1,145.80. As we recommended earlier, we are still looking at the lower level targets $1,024.00, $927.00, and $850.00-$800.00 in the longer-term view. In the h4 chart, the price is trading below the hourly key moving averages. The metal made a double top between $1,177.60 and $1,178.40 levels. This week the metal opened on a bearish note, which is still going on. In case if the metal closes above $1,178.50, then only bulls have an upper hand in the coming days. Until then, selling on every rise will mint the money.

This image is no longer relevant

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
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 $9000 more!
    In May we raffle $9000 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