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| Technical Analysis for Gold 4-8-2015 |
Gold moved yesterday in the average movement of 120 Pips, its highest level at 1097.70 and the lowest price at 1085.72 and closed at 1086.07 to lose 96 pips According to yesterday’s economic data.
Gold opened today's trading at 1086.36 volatile between 1081 and 1087 during the Asian session trading at 6 Dollar for the poor liquidity in the market range, and in the European session the metal went up to 1092.12
Gold is moving in a series of down corrective waves inside the flag to record the lower price over 66 months at 1077.15
We saw the gold achieved our target at 1083
It is expected that the yellow metal is heading targeting 1100 as a target on time frame of four hours and until now we see the Bulls control on market direction and the Bulls waits the first support Level to enter the market
And the Relative Strength Indicator "RSI" show us accumulation operations at the market
Today we could see sharp trading because of the economic data from the USA
Support levels: 1081.96 and 1077.85 and 1069.98
Resistance levels: 1093.94 and 1101.81 and 1105.92
More Technical Outlook FxStations
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