empty
 
 
01.12.2015 08:43 AM
Technical analysis of Gold for December 01, 2015

This image is no longer relevant

Technical outlook and chart setups:

Gold has rallied to the level of $1,075.00 during the day and is expected to take out resistance at $1,080.00 as well, after a dip fall at $1,066.00. The metal is testing its immediate line of resistance as seen on the chart, and a breakout here will be the first sign of a potential reversal. It would be then confirmed that the metal has formed an interim low at $1,052.00. Immediate support is seen at the level of $1,052.00 followed by $1,030.00 and lower, while resistance is seen at $1,080.00 followed by $1,090.00 and higher. Please note that prices could head towards $1,040.00 in the near term.

Trading recommendations:

Initiate long positions now with stop at $1,048.00, a target is open.

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