Gold analysis for December 02, 2015
December 2, 2015 2:20 pmVideo
Latest News
- Technical Analysis – EURUSD sets sight on 1.0900 handle May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th (US Session) May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th (US session) May 28, 2024
- GBP/USD: trading plan for the US session on May 28th (analysis of morning deals). The pound hit a new monthly high May 28, 2024
- EUR/USD: trading plan for the US session on May 28th (analysis of morning deals) May 28, 2024
- USD/JPY: trading tips for beginners for European session on May 28 May 28, 2024
- Forex forecast 05/28/2024: EUR/USD, USD/JPY, Gold, Ethereum and Bitcoin from Sebastian Seliga May 28, 2024
- EUR/USD. May 28th. The bulls intend to reach the level of 1.1000 May 28, 2024
- Trading plan for EUR/USD on May 28. Simple tips for beginners May 28, 2024
- GBP/USD. May 28th. The pound sees no reason to stop at its current level May 28, 2024
- USD/JPY: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Video market update for May 28, 2024 May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Low volatility across the board besides Bitcoin – Volatility Watch May 28, 2024
- Technical Analysis – EURCHF pulls back from 14-month peak May 28, 2024
- USA and Europe: market trends during the holidays May 28, 2024
- Market Comment – Euro takes advantage of weak dollar May 28, 2024
- Technical Analysis – EURJPY advances towards 40-year high May 28, 2024
- Technical Analysis – GBPUSD challenges new 2-month high May 28, 2024
Overview:
Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,059.94. In the daily time frame, I found a weak demand bar and rejection from our SMA 10. Our strong support around the levels of $1,075.00-$1,080.00 has become the strong resistance (changing polarity) now. In the M30 time frame, as I expected, the price reacted from intraday resistance of $1,074.00 (strong intraday resistance). Intraday support is seen around the level of $1,053.00. The next strong daily support is seen around the level of $1,046.00.
Daily Fibonacci pivot points:
Resistance levels
R1: 1,073.35
R2: 1,076.00
R3: 1,080.30
Support levels:
S1: 1,064.80
S2: 1,062.15
S3: 1,057.90
Trading recommendations: Be careful when buying gold because we have a strong rejection from our resistance and gold is in the strong downward trend. Watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: