empty
 
 
09.04.2013 01:50 PM
Gold: Retracement underway. Bottom seen at 1,555/60. Remain long

This image is no longer relevant

Technical outlook and chart setups:

The yellow metal seems to be retracing its recent gains from 1,540.00 level lately. 1,555.50/1,556.00 levels seem to be good support now and a bottom is more likely to form at these levels as 0.618 Fibonacci support is also around the same region. Major support is around 1,530/40 levels, followed by 1,520/25; while initial resistance is laid at 1,610/20, followed by 1,650/60 and higher up. It is strongly recommended to hold long positions initiated from last week and also plan to build further during intraday dips towards the 1,560.00 mark. As depicted here on chart, the yellow metal should first dip towards 1,560.00 and then rally towards 1,650/60. Looking higher now.

Trading recommendations:

Hold on to long positions, stop is at 1,521.50, and target is open (long-term).

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