empty
 
 
15.04.2013 02:05 PM
Gold moves towards major correction lower. 1,520/25 resistance now

This image is no longer relevant

Technical outlook and chart setups:

The yellow metal BREAKS multi month support at 1,520/25 levels on Friday giving in almost 8-10% lower immediately. The intraday lows are at 1,385.00 for now and it is expected to produce a counter trend rally soon. But rather than bottom fishing and loosing trades, it is recommended to stay flat for now and let a counter trend reversal signal be produced, or wait to initiate short positions at major support turned resistance at 1,520/25 as shown on the chart here. Please note that buying should be completely avoided for now, and selling rallies should be favored trading strategy from here on. The entire structure reveals that the yellow metal could be heading towards 1,200-1,500 levels on the lower side. This is re-enforced by the 0.5% and 0.618% of the entire rally from 780 to 1,930 level since 2008. Looking to sell rallies from here on.

Trading recommendations:

Flat for now. Looking to sell rallies aggressively now. 1,520/25 remains on interest to go short.

Good luck!

InstaForex Analyst,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2025
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.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $6000 अधिक!
    में दिसंबर हम आकर्षित करते हैं $6000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback