empty
 
 
29.05.2013 01:50 PM
Gold continues drift sideways. Exit short positions and build long. 1,373.00 immediate support

This image is no longer relevant

Technical outlook and chart setups:

The metal has been trading again in a cone consolidation (pennant) since several days. It is recommended to exit short positions now (1,382/83) and initiate at least 50% long positions. The sideways structure is indicating a break around 1,400.00 (bullish) or a bearish break below 1,373.00. Looking into the overall wave structure since 1,324.00, it is still possible for a 0.786 bounce (1,340.00). Considering this probability, the yellow metal is expected to break above 1,400.00 soon. Intermediary high/resistance stands at 1,415.00 and a break above that would confirm an extended rally towards 1,500/20 levels at least. Looking higher for now.

Trading recommendations:

Exit short positions. Build long positions, stop is at 1,369.00, and target is open.

Good luck!

Ringkasan
Urgensi
Analitik
InstaForex Analyst
Mulai berdagang
Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $6000 lebih banyak!
    Pada Desember kami mengundi $6000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback