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August 11, 2014

GOLD Daily forex post- US session August 11, 2014

Posted by: ffs @ 13:34 GMT Category: Daily Forex,GOLD,Signals

GOLD Technical view

Updated:  August 11, 2014 13:34:05 GMT
SPOT GOLD Previous day OHLC
Open High Low Close Change
1313.24 1322.60 1305.90 1309.34 -3.85
Today's Support and Resistance
Resistance
Support
R3 1361.00
R2 1331.00
R1 1323.00
S1 1290.001
S2 1286.00
S3 1273.00

Gold is edging lower in a light session on Monday. The precious metal is well supported at $1284.00- 1290.00, while on the top, prices are likely to be capped at $1320.00- 1330.00. The overall view remains bearish unless prices close above the resistances

Trend direction

  • Short term: Bullish
  • Medium term: Bearish
  • Long term: Bearish

Trading Recommendations

  • Short:

    • Short at $1323.00 with stops at $1333.00 for targets of $1290.00
    • Short also at $1330.00 with stops at $1338.00 for targets of $1290.00
  • Long:

    • N/A
Post ID: 9805
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