empty
 
 
25.08.2015 03:34 PM
Gold analysis for August 25 , 2015

This image is no longer relevant

This image is no longer relevant

Overview:

Since our last analysis, gold has been trading sideways around the price of $1,150.00. According to the daily time frame, we can observe a strong supply bar in a high volume. I placed diagonal trendline and the price stoped extacly on it. Our Fibonacci retracement 50% at the price of $1,155.00 held successfully. So far, we can observe strong support around the price of $1,145.00. Be careful when buying since we have signs of weakness in the background. Watch for potential breakout of the support and try to sell after retracement.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,165.00

R2: 1,171.55

R3: 1,180.00

Support levels:

S1: 1,146.00

S2: 1,140.00

S3: 1,131.75

Trading recommendations: The strong sign of the weakness is in the background. Watch only for selling opportunites if the price breaks the support.

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