empty
 
 
17.11.2015 01:42 PM
Technical analysis of Gold for November 17 2015

This image is no longer relevant

Technical outlook and chart setups:

Gold brake out the immediate trend line resistance and took out $1,096.00 initial resistance yesterday. The yellow metal retraced lower and tested the back side of the resistance turned support line around $1,078.00 as we can see here. A bullish reversal pattern confirms that the metal is set to extend its rally towards $1,110.00/13.00 and $1,137.00. It is recommended to hold long positions with risk at $1,072.00. Immediate support is seen at $1,074.00, while resistance is seen at $1,100.00.

Trading recommendations:

Remain long from yesterday, stop is at $1,072.00, a target is open.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback