empty
 
 
05.08.2013 10:17 AM
Gold hits first target at 1,280 region and pulls back. Flat for now

This image is no longer relevant

Technical outlook and chart setups:

The metal almost met the short targets around 1,270/80 levels last week before pulling back sharply on Friday after NFP Release, as depicted here. The rising counter trend line was broken earlier and it is being tested on the back side, which is resistance at the moment. Resistance with respect to price is at 1,330/35 region, followed by 1,351.00 and 1,400.00; while support is at 1,270.00 and lower. Fibonacci extensions are pointing towards a possible bottom around 1,249/50 levels. It is recommended to remain flat for now and initiate fresh short positions on bearish signal appearing on shorter timeframes.

Trading recommendations:

Flat for now. Looking to initiate short positions again.

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