empty
 
 
13.06.2014 03:44 AM
Technical analysis of gold for June 13, 2014

GOLD

Review- Gold slowly moved to 2-week high amid Iraq violence. The concerns in Iraq brought the yellow metal to the green light. We recommended to buy (June 09 article) the yellow metal for targets at 1,260, 1,268, 1,273.80, 1,278.50 and 1,288 levels with sl 1,240. We requested traders to book profits here at cmp 1,273 levels.

Weekly analysis-

This image is no longer relevant

Currently the pair is facing resistance at the 38.2 fib level in the weekly chart. On the upside, the metal will have a rough road ahead between $1,277.40 -$1,278.50. Above $1,278.50, it can travel up to $1,283, $1,284.70, $1,289.60 and $1,296.50 levels. In the weekly chart, the metal is making a bullish wedge pattern. If this week, the metal breaches the upper trend line, it can give an upside breakout for $1,296 levels.

This image is no longer relevant

For an intraday basis, the metal is trading at $1,272.40 in Asia's trading session. It is facing strong resistance at 200-hour EMA at $1,275 levels. Risky traders can go short with sl $1,278.50, selling zone at cmp and some more up at $1,275-$1,277.50. This view involves high risks under the current circumstances. Safe trades can sell below $1,268 levels. If the metal breaches the upside resistance at $1,278.50, traders can buy for $1,284.50-$1,286 levels. The hourly momentum oscillators favor limited upside.

On the downside, the selling will become double below $1,268, it can drift up to $1,264, $1,262 and $1,260.

NOTE-

Risky traders- sell at cmp $1,272.50 for targets at $1,268, $1,264, $1,262 and $1,260.

Safe traders- Sell below $1,268.

Buy above $1,278.50 for targets at $1,284.50 and $1,286 (intraday).

Buy above $1,278.50 with targets at $1,284.50, $1,286, $1,289.60, and $1,296.50 levels (positional).

Adopt a strategy and please trade safe.

This image is no longer relevant
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 $1000 más!
    ¡En Junio, sorteamos $1000 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
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 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