empty
 
 
03.07.2014 11:24 AM
Gold technical analysis for July 3, 2014

The current trend in Gold is mixed. Gold price is mainly moving sideways with no clear trend. Gold price has formed a short-term top at $1,330-35 area and is pulling back downwards near support at $1,310-15. This short-term support if broken will push Gold price towards $1,300-$1,290. If Gold price breaks above $1,335, we should expect a sharp rise towards $1,350-60.

This image is no longer relevant

Gold price is still above the Ichimoku cloud support and the upward sloping trend lines. Support is found between $1,315 and $1,295. If Gold breaks $1,315, we could say that a normal pull back that will not put the uptrend in danger could push price even towards $1,295. However, if the pullback breaks below $1,295, the up trend that started at $1,240 will most probably be complete.

This image is no longer relevant

Today I decided to show also my alternative bullish wave count for Gold price. My preferred wave count is the red one. The blue wave count is my bullish alternative. For now, I believe the red scenario has the most chances of success. In order for the blue scenario to be my first choice I will have to see Gold price break above the red triangle and above $1,391. Next I would like Gold price to break the blue downward sloping trend line resistance at $1,580.

Summary
Urgency
Analytic
Alexandros Yfantis
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 $10000 más!
    ¡En Enero, sorteamos $10000 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