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| Technical Analysis for Gold 28-7-2015 |
Gold moved Yesterday in the average movement of 166 Pips, its highest level at 1104.89 and the lowest price at 1088.23 and closed at 1093.41 to lose 61 pips According to yesterday’s economic data.
Gold opened today's trading at 1093.80 volatile between 1092 and 1098 during the Asian session trading at 6 Dollar for the poor liquidity in the market range.
Gold is moving in a series of down corrective waves to record the lower price over 66 months at 1087.62 to touch 161.8% fibo
It is expected that the yellow metal is heading targeting 1111 as a target on time frame of four hours and until now we see the Bulls control on market direction and the Bears waits the first Resistance 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: 1086.13 and 1078.85 and 1069.47
Resistance levels: 1102.79 and 1112.17 and 1119.45
More Technical Outlook FxStations
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