Gold - Monday, June 22, 2015
In the last two days gold is back down below the key level of $ 1,0 after recently soaring above a three-week high above $ 1,205. The level of $ 1,0 remains significant and continues to selling pressure on gold. Before the rise and the last two weeks of gold was content to trade around the $ 1180 level key. During the last week, he rallied well to go from two month low near $ 1,0 back up above $ 110 before falling again at $ 1,180. The key $ 1,180 level has always been a strong supporter and served up a few months now, with the recent exception. Just a few weeks gold fell through the key level of $ 10 and spent the rest of the week consolidating in a tight range around $ 110.
The level of $ 1,0 was a significant level in most of this year and is now a key level offering reasonable resistance to higher prices, while lower level of $ 1180 continues to be important . Throughout the last month or $ 1180 level provided support and was named recently. Earlier in May, he was able to race through the level of $ 10 to a peak of three months above $ 1,230 but gold was quickly sold and returned to the level of $ 10 where he has had some support for several days.
For about two months through April gold traded in a range between $ 1180 and $ 1220 and had very few excursions outside these limits. Gold is currently stuck between resistance at $ 10 and support at $ 1,180 and it is surprising to see the trade in such a tight range for several days. It seems he waits patiently external factors to determine what level will be put to the next test.
(daily chart / 4 hourly chart below)
Now June 22 at 3:20 GMT 1198.9 H: 01.2 L : 1196.5
Technical Gold
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1180 | 1150 | - | 10 | 1240 | - |
During the first hours of the Asian session on Monday, gold is trading just around the key level of $ 1,0 after finishing last week easing back to that level after the recent high soaring to a three-week high above $ 1,205. Current range :. trading right around $ 10
Other levels in both directions
• Below: 1180 and 1150.
• Above: 10 1240.
Open ratios position OANDA
(shows the ratio of long positions versus short held for purposes gold among all OANDA clients. the percentage left (blue) shows long positions, the percentage right (orange) shows short positions)
the long position report for gold fell back to 65 % as gold has jumped back to the key $ 1,0 level .. the trader sentiment is strongly in favor of long positions.
Economic Releases
- 2:00 p.m. EU Consumer Sentiment flash (June)
- 2:00 p.m. sales of US existing homes (May )
- JP BoJ monthly Report Post
* All times are GMT release of
This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
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