Gold: analysis for December 27, 2013
December 27, 2013 1:15 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
- Video market update for May 01, 2024 May 1, 2024
- What do Q1 earnings hold for Disney’s stock? – Stock Markets May 1, 2024
- Will the post-FOMC jobs report move the dollar? – Preview May 1, 2024
- Forex forecast 05/01/2024: EUR/USD, GBP/USD, USD/JPY, SP500 and Oil from Sebastian Seliga May 1, 2024
- Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed May 1, 2024
- Technical Analysis – Gold seeks safety after Tuesday’s drop May 1, 2024
- Technical Analysis – USDJPY stabilizes a tad below 160.00 May 1, 2024
- Video market update for April 30, 2024 April 30, 2024
- Analysis of the EUR/USD pair on April 30, 2024 April 30, 2024
- Analysis of the GBP/USD pair on April 30th. Last chance for the dollar April 30, 2024
- GBP/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- EUR/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- GBP/USD: trading plan for the US session on April 30th (analysis of morning deals). The pound is kept within the side channel April 30, 2024
- Could Monday’s intervention turn the tide for the yen? – Special Report April 30, 2024
- EUR/USD: trading plan for the US session on April 30th (analysis of morning deals). The euro is trying to end the month on April 30, 2024
- Trading Signals for Bitcoin (BTC/USD) for April 30 – May 7, 2024: sell below $62,500 (21 SMA – 4/8 Murray) April 30, 2024
Overview:
Since our last
analysis,Gold has been trading upwards, as we expected, the price tested the
level of 1,215.53 (FE 100 %) on ultra high volume (buying climax). According to
the 1H chart, Gold is in bullish corrective phase, so we placed Fibonacci
expansion to find the levels for potential end of the bullish corrective phase.
We got FE 61.8 % at 1,205.22 (already broken), FE 100 % at 1,213.15, and FE
161.8 % at the price of 1,225.97. We can also see decreasing volume on upper
legs which is good sign for further bearish continuation. Anyway, if the price
breaks the area of 1,215.53 on high volume, we may see the testing of FE 161.8 %
at 1,225.90, before we start with bearish continuation. Don’t forget, Gold is
in bearish trend so buying looks very risky. Watch for selling opportunities
after the bullish corrective phase ends.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1,213.55
R2: 1,216.19
R3: 1,220.47
Support levels:
S1: 1,204.99
S2: 1,202.35
S3: 1,198.07
Trading recommendation: Trading the metal, be careful with short-term
buying and look for selling opportunities after the bullish corrective phase
ends.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: