Header Ads

Header ADS

Gold Trend 08/04

Gold continued to trade in a tight range yesterday. The market opened at 1923. After wandering around 1920-23 in the Asian session, the price has started to climb as it approached the European session; and peaked at 1937 during the US trading hours. The day ended at 1931, up by USD 7.

The structure hasn't changed at all in the 1-hour chart; we can continue to take full advantage of the 1915-42(1) range until the pattern changes.

The trend in the daily chart alines with the 1-hour chart, where 1915-42 remain the range in S-T.

S-T Resistances:
1950
1940-41
1930

Market price: 1928

S-T Supports:
1920-18
1915
1910-08


Risk Disclosure: Gold Bullion/Silver ("Bullion") trading carries a high degree of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. This article is for reference only and is not a solicitation or advice to trade any currencies and investment products . Before deciding to trade Bullion you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment or even more in extreme circumstances (such as Gapping underlying markets) and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading Bullion, and seek advice from an independent financial advisor if you require. Client should not make investment decision solely based on the point of view and information on this article. 


Powered by Blogger.