Analys från ForexYard
Gold MT: capped by a negative trend line.
Pivot: 1361.
Our Preference: As long as 1361 is resistance, an extension of the downward track towards 1180 and 1134 in extension seems likely.
Alternative scenario: An upside breakout of 1361 would open the way towards 1434.
Comment: the RSI is bearish and calls for further decline. The price is capped by a declining trend line in place since March.
Trend: ST Bearish; MT Bearish, we have been bearish since 21 NOV 2013 (1246).
Key levels Comment
1485 Horizontal resistance
1434 Horizontal resistance
1361 Pivot point
1233 Last
1180 Horizontal support
1134 Fib projection
1080 Fib retracement (50%)
Copyright 1999 – 2013 TRADING CENTRAL
Pivot: 116
Our preference: long positions above 116 with targets @ 123.8 126 in extension.
Alternative scenario: below 116 look for further downside with 113.85 110 as targets.
Comment: the RSI is well directed.
Supports and resistances:
127.7 **
126 ***
123.8 ***
121.628 Last
116 ***
113.85 ***
110 **
Copyright 1999 – 2016 TRADING CENTRAL
Pivot: 32.8
Our preference: long positions above 32.8 with targets @ 34.84 35.9 in extension.
Alternative scenario: below 32.8 look for further downside with 31.7 30.6 as targets.
Comment: the break above 32.8 is a positive signal that has opened a path to 34.84.
Supports and resistances:
36.7
35.9
34.84
33.58 Last
32.8
31.7
30.6
Copyright 1999 – 2016 TRADING CENTRAL
Pivot: 35
Our preference: short positions below 35 with targets @ 26 23.3 in extension.
Alternative scenario: above 35 look for further upside with 38.5 43.5 as targets.
Comment: investors have to remain cautious since these levels may trigger profit taking.
Supports and resistances:
43.5 **
38.5 **
35 ***
33.82 Last
26 ***
23.3 **
20 **
Copyright 1999 – 2016 TRADING CENTRAL
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