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August 12, 2014

GOLD Daily forex post August 12, 2014

Posted by: ffs @ 03:56 GMT Category: Daily Forex,GOLD,Signals

GOLD Technical view

Updated:  August 12, 2014 3:56:43 GMT
SPOT GOLD Previous day OHLC
Open High Low Close Change
1309.09 1311.40 1304.70 1307.84 -1.50
Today's Support and Resistance
Resistance
Support
R3 1333.00
R2 1322.00
R1 1317.00
S1 1300.00
S2 1290.00
S3 1282.00

Gold settled unchanged on Monday, after a light session. View continues to remain bearish the precious metal likely to slide to $1280.00- 129.00 once supports at $1300.00 are taken out. The upside for now could be be capped at trendline resistances at $1320.00- 1335.00 and ONLY a close above will negate the bearish view

Trend direction

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

Trading Recommendations

  • Short:

    • Short at $1322.00 with stops at $1328.00 for targets of $1290.00
    • Short also at $1333.00 with stops at $1338.00 for targets of $1290.00
  • Long:

    • N/A
Post ID: 9820
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