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| Technical Analysis for Gold 27-7-2015 |
Gold moved last Friday in the average movement of 244 Pips, its highest level at 1104.89 and the lowest price at 1094.25 and closed at 1103.65 to Gain 87 pips According to Friday’s economic data.
Gold opened today's trading at 1099.55 volatile between 1095 and 1100 during the Asian session trading at 5 Dollar for the poor liquidity in the market range, and in the European session the gold went up to 1104.89
Gold moves in a series of down corrective waves to record the lower price over 66 months at 1087.62 to touch 161.8% fibo
The gold achieved our target at 1080
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: 1096.97 and 1090.29 and 1086.33
Resistance levels: 1107.61 and 1111.57 and 1118.25
More Technical Outlook FxStations
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