Tuesday, October 13, 2015

Gold is trading lower

Gold lost some of its gains for the previous days due to bearish technicals and lack of fresh news. Traders and investors did not miss the opportunity to sell at the highest level around $1,165-$1,167.

Currently the precious metal is trading at $1,157 while short-term sentiment remains bearish. First level of support is seen at $1,150, S2 is $1,130 and S3 is found at $1,120.

First level of resistance is $1,167, R2 is $1,187 and R3 is $1,205.

Chart: XAUUSD H1


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8 comments:

  1. UnknownOctober 13, 2015 at 12:14 PM

    Looks like it will keep pushing higher.

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  2. UnknownOctober 13, 2015 at 4:04 PM

    It's most probably a mere pullback before continuing to climb.

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  3. UnknownOctober 13, 2015 at 5:54 PM

    The immediate resistance level can be found at 1169.99.

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  4. UnknownOctober 13, 2015 at 8:02 PM

    It's still testing the previous high at 1170.06 but I am not sure whether it will be able to break above it.

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  5. UnknownOctober 13, 2015 at 10:54 PM

    Nice upward move!

    ReplyDelete
  6. bewayopaOctober 14, 2015 at 1:12 AM

    Good tip, I'll register!

    ReplyDelete
  7. UnknownOctober 14, 2015 at 9:42 PM

    Well done analysis.

    ReplyDelete
  8. UnknownOctober 19, 2015 at 12:29 AM

    Great analysis. Thank you for sharing.

    ReplyDelete

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