First strong support is $1,115, first resistance is $1,141. After those levels: S2: $1,094, S3: $1,076; R2: $1,157, R3: $1,170.
Chart: XAUUSD H1
Monday, October 5, 2015
Gold Slipping
The precious metal is in the red since today's opening. Gold opened at $1,139 and couldn't sustain Friday's gains. Currently Gold is trading at $1,131-$1,132/oz. With no major news to stir the market, traders and investors do not have a lot of reasons to hold any long Gold positions. Apparently, they do not care about the Syrian conflict and the involvement of Russia in it. As we have said before, Gold is influenced by geopolitical crises that spread beyond a national territory. So far, we have not witnessed this with the Syrian civil war.
First strong support is $1,115, first resistance is $1,141. After those levels: S2: $1,094, S3: $1,076; R2: $1,157, R3: $1,170.
Chart: XAUUSD H1
First strong support is $1,115, first resistance is $1,141. After those levels: S2: $1,094, S3: $1,076; R2: $1,157, R3: $1,170.
Chart: XAUUSD H1
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It appears it was only temporary.
ReplyDeleteGold shines again!
ReplyDeleteExcellent and golden analysis.
ReplyDeleteIt may be a bullish flag pattern.
ReplyDeleteGreat analysis, thank you.
ReplyDeleteThanks for the tips.
ReplyDeleteThanks for the resistance and support levels update.
ReplyDelete