Gold: resistance at 1,267.00 for now
December 18, 2013 11:15 amVideo
Latest News
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
- EUR/USD: trading plan for the US session on April 15th (analysis of morning deals). Euro is at an impasse April 15, 2024
- GBP/USD: Will sterling hold steady against dollar? April 15, 2024
- Technical Analysis – USDJPY rallies to another fresh 34-year high April 15, 2024
- Will Netflix earnings take the share price closer to its record highs? – Stock Markets April 15, 2024
Technical outlook and chart setups:
The metal is subdued, after it touched the highs around 1,267.00 level for now. It is recommended to remain flat for now since there is an equal probability that the metal can follow both downtrend and uptrend. As seen here, temporary resistance comes in at 1,267/70 levels; while support comes in at 1,210.00 level. Pushing higher than 1,270.00 the price could see 1,300/50 levels; while a break below 1,210.00 would bring in the possibilities of fresh lows at 1,150.00 levels and lower. Please note that a multi-year resistance at 1,030/50 levels (2008) would be strong support now if prices reach there. On the other hand, a break above 1,300 and 1,350.00 would confirm that a bottom is in place and would change our strategy to buy on dips.
Trading Recommendations:
Flat for now.
Good Luck !
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: