Price started to rebound after touching the support @ 1860 last Fri, reached the daily high of 1878 in the US session.
Without any major break through, we can continue to take advantage of the M-T 1860-1898 range. A S-T support line (1) has formed in the past 48 hours. Short-Term resistance is now at 1880-83 area.
S-T Resistance: 1880-83 / 1893
S-T Support: 1870 / 1860-55
Without any major break through, we can continue to take advantage of the M-T 1860-1898 range. A S-T support line (1) has formed in the past 48 hours. Short-Term resistance is now at 1880-83 area.
S-T Resistance: 1880-83 / 1893
S-T Support: 1870 / 1860-55
Comment:
Selling momentum remained in the market yesterday. After the price has retraced upon 1832(1) @ 15:00, it breached pervious low 1820(2) at 18:00. Day low touched 1800, closed at 1807, -30.3.
Price closed near day low, still awaiting the bottoming signal on the daily chart. S-T support is now at 1800.
S-T Resistance: 1820 / 1830-34
S-T Support: 1800 / 1790
Selling momentum remained in the market yesterday. After the price has retraced upon 1832(1) @ 15:00, it breached pervious low 1820(2) at 18:00. Day low touched 1800, closed at 1807, -30.3.
Price closed near day low, still awaiting the bottoming signal on the daily chart. S-T support is now at 1800.
S-T Resistance: 1820 / 1830-34
S-T Support: 1800 / 1790
Comment:
Gold price moved in a tight range yesterday, fluctuating between 1800-1820.
Support the gold price, FOMC minutes from Nov. 4-5 meetings showed that a few committees was expecting to lengthen the maturity of the bonds purchased.
M-T downward form unchanged on the daily chart, target remains @ 1750. Expect S-T range bound between 1800-1820.
S-T Resistance: 1820 / 1830-34
S-T Support: 1800 / 1790
Gold price moved in a tight range yesterday, fluctuating between 1800-1820.
Support the gold price, FOMC minutes from Nov. 4-5 meetings showed that a few committees was expecting to lengthen the maturity of the bonds purchased.
M-T downward form unchanged on the daily chart, target remains @ 1750. Expect S-T range bound between 1800-1820.
S-T Resistance: 1820 / 1830-34
S-T Support: 1800 / 1790
Comment:
No news to stimulate the market, the gold price remained moving sideway yesterday.
M-T downward pattern unchanged on the daily chart, target remains at 1750. Before any the breaking through of the support, S-T trading strategy continues as range bound within 1800-20.
S-T Resistance: 1820 / 1830-34
S-T Support: 1800 / 1790
No news to stimulate the market, the gold price remained moving sideway yesterday.
M-T downward pattern unchanged on the daily chart, target remains at 1750. Before any the breaking through of the support, S-T trading strategy continues as range bound within 1800-20.
S-T Resistance: 1820 / 1830-34
S-T Support: 1800 / 1790
P. To
Major movement has happened again on Monday! Gold price breached the S-T support (1) consolidating between 1860-1870 earlier in the European session. Then after the released of the US PMI figures, a stronger than expected economic recovery pressured the price downward, broke the M-T support of 1850(2), to as low as 1830.
The next M-T support will be @ 1760 level, a pervious peak (3) and the 50% retracement from the surge before (4). L-T target will now be the 250 days MA (5).
S-T Resistance: 1830-34 / 1840
S-T Support: 1820 / 1810