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24.09.2015 03:21 PM
Gold : analysis for September 24, 2015

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Overview:

Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of $1,144.80. The intraday trend is upward. In the daily time frame, we can observe a demand bar in an average volume. In the M15 time frame, we can observe a successful test at the supply level of $1,134.00. It encouriged buyers to buy and we got nice result from the test. We got resistance at the level of $1,169.00. Watch for buying opportunities on dips.

Daily Fibonacci pivot points :

Resistance levels

R1: 1,132.20

R2: 1,133.11

R3: 1,134.60

Support levels:

S1: 1,129.20

S2: 1,128.30

S3: 1,126.50

Trading recommendations: Be careful when selling gold at this stage and watch for potential buying opportunities.

Summary
Urgency
Analytic
Petar Jacimovic
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