InstaForex - Analytics


    740.25 6.25/10
    63% of positive reviews

    Gold : analysis for June 08, 2015


    Show full picture


    Show full picture


    Gold has been trading sideways around the level of $1,173.00. According to the daily time frame, we can observe a supply bar in an volume below the average (weak supply). I found the strong mid-term trading range between the levels of $1,230.00 and $1,169.00. The price is testing the bottom of our trading range ($1,169.00). Selling gold at this stage looks risky since our support (cluster) is on the test. We are facing very low activity on the market. According to the M30 time frame, we can observe selling climax (hidden buying) in the background.

    Daily Fibonacci pivot points:

    Resistance levels:

    R1: 1,171.00

    R2: 1,171.40

    R3: 1,172.00

    Support levels:

    S1: 1,169.20

    S2: 1,168.50

    S3: 1,167.90

    Trading recommendations: Weak supply around the level of $1,170.00. Be careful when selling gold at this stage.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree