Technical analysis of gold for February 04, 2014
February 4, 2014 6:05 amVideo
Latest News
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
- EUR/USD: trading tips for beginners for European session on April 17 April 17, 2024
- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
- Technical Analysis – NZDUSD bounces off 5-month low April 17, 2024
- Overview for the EUR/USD pair on April 17th. There is no single reason for the euro to rise April 17, 2024
- Key events on April 17: fundamental analysis for beginners April 17, 2024
- Trading plan for GBP/USD on April 17. Simple tips for beginners April 17, 2024
The gold price closed positively on Monday having found support
from the previous two days’ low of $1,237.7 and resistance at Thursday’s high of $1,267.
After a closely-watched US factory barometer dipped in January posting a 7-month low. Purchasing managers index fell to a
record low of 51.3, while analysts expected it to be 56.4.
Investors are focused on gold as well. Chinese traders are still on holidays. Markets will be closed until Friday. This week, traders will keep track of nonfarm payroll numbers .This morning, the metal opened at the level of 1,257, but then found
resistance at yesterday’s closing price. The day started with a weak opening.
In the weekly chart, gold traced its first weekly drop in 6
consecutive weeks.
In the daily chart, Stochastic
and RSI are positive. The yellow metal is trading above the 21DEMA. In the
daily chart, oscillators gave a downward direction.
Support: $1253, $1,250, $1,240
Resistance: $1,266, $1,270 $1,279
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: