empty
 
 
18.02.2013 12:29 PM
Gold breaks 1,620.00. Still too early to confirm reversal

This image is no longer relevant

Technical outlook and chart setups:

No doubt, the yellow metal has printed fresh lows taking us out at 1,620.00 region last Friday. We again re-look at the Daily chart here, which is confirming 1,595/96 as a strong Fibonacci support as depicted here (orange line). Furthermore, that is probably the end of the Gartley, that begun from 1,798.00 level. The support trendline passing through is not yet technically broken for prices to indicate downward acceleration as of now. Support region is 1,550/70, while resistance is 1,694.00 at the moment. It is still recommended to go long on dips from here on.

Trading recommendations:

Go long 50% of capacity now (1,614.00), remaining 50% between 1,580 and 1,600, stop is at 1,550.00. Target is open.

Good Luck!

InstaForex Analyst,
Especialista em análise na InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $6000 mais!
    Em Dezembro nós sorteamos $6000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback