Gold analysis for December 01 , 2015
December 1, 2015 11:40 amVideo
Latest News
- Forex forecast 05/06/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 6, 2024
- Hot forecast for EUR/USD on May 6, 2024 May 6, 2024
- Trading plan for GBP/USD on May 6. Simple tips for beginners May 6, 2024
- Trading plan for EUR/USD on May 6. Simple tips for beginners May 6, 2024
- Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs , Monday May 06 2024.ei 2024. May 6, 2024
- Technical Analysis of Intraday Price Movement of USD/IDR Exotic Currency Pairs , Monday May 06, 2024. May 6, 2024
- Forecast for EUR/USD on May 6, 2024 May 6, 2024
- Forecast for GBP/USD on May 6, 2024 May 6, 2024
- Forecast for AUD/USD on May 6, 2024 May 6, 2024
- Trading Signals for EUR/USD for May 3-5, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 3, 2024
- Trading Signals for GOLD for May 3-5, 2024: sell below $2,320 or below $2,300 (21 SMA – 200 EMA) May 3, 2024
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of $1,074.45. In the daily time frame, I found a demand bar and inside-bar formation. Our SMA 10 is now on the test. 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, we can observe testing of the level of $1,074.00 (strong intraday resistance). The next strong daily support is seen around the level of $1,046.00.
Daily Fibonacci pivot points:
Resistance levels
R1: 1,068.15
R2: 1,072.10
R3: 1,078.60
Support levels:
S1: 1,055.20
S2: 1,051.25
S3: 1,044.80
Trading recommendations: Be careful when buying gold as the price is testing the resistance level now 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: