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August 12, 2014

GOLD Daily forex post- US session August 12, 2014

Posted by: ffs @ 13:25 GMT Category: Daily Forex,GOLD,Signals

GOLD Technical view

Updated:  August 13, 2014 1:33:43 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

Spot Gold is up about three fourths of a percent on Tuesday, holding near key resistances at $1317.00. The gains are however likely to be capped at $1320.00- 1335.00, before the precious metal could head to $1280.00 1290.00. Short on gains leading to the resistances

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: 9828
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