empty
 
 
04.01.2013 10:44 AM
Gold Retraces The Recent Rally. Look To Buy Again Now (1,645/50)

This image is no longer relevant

Technical Outlook and Chart Setups:

The overall structure still remains constructive for bulls. Again looking into it, prices have bounced off the longer-term uptrend line, past resistance turned support and the 0.618 Fibonacci support at 1,630/35 levels. The recent fall from 1,690/95 levels can be defined as wave 2 as depicted here. Wave 1 was the upswing from 1,632 to 1,694 levels earlier. A powerful wave 3 should be underway now from around 1,645.00 level; which could bring prices comfortable above 1,720/25 levels as depicted here. Resistance is lined up from 1,700.00 level, followed by 1,720/23 and 1,750/53 respectively. Immediate support is at 1,630.00, followed by 1,600/10. Looking higher from here.

Trading Recommendations:

Hold on to long positions taken earlier, look to add at current levels (1,650/51), stop is at 1,610/20, and target remains open.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback