Since our last analysis, gold has been trading upwards. The price has tested the level of $1,184.04 in a very high volume. According to the 4H timeframe, we can observe that the price broke the lower channel which is a sign of bullish strength. Gold changed its trend's dynamic from bearish to bullish, so be careful when selling. I have placed Fibonacci retracement to find potenteial resistance levels and have got Fibonacci retracement 61.8% at the price of $1,191.00. Watch for potential buying opportunities on the dips.
Daily Fibonacci pivot points:
Resistance levels :
Support levels :
Trading recommendations: Watch for potential selling opportunities after a retracement.
Petar Jacimovic neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.
Uitgevoerd door, Analytische expert
InstaForex Group © 2007-2015