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Daily technical analysis of GOLD By INSTAFOREX

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  #161  
Old 06-12-2016, 18:05
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upward. The price tested the level of $1,175.75 in a high volume. Using the market profile on 30M time frame, I found today's point of control at the price of $1,171.90. The price is trading above 21SMA, which is a sign of strength. Be careful when selling and watch for potential buying opportunities. I also found a symmetrical triangle. Watch for an upward breakout to confirm momentum. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 61.8% at the price of $1,179.90 and Fibonacci expansion 100% at the price of $1,186.70.

Trading recommendations for today:
Watch for a breakout of the symmetrial triangle to confirm momentum.




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  #162  
Old 08-12-2016, 23:09
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been moving upwards. The price tested the level of $1,180.02 in a high volume. According to the 30M time frame, I found that demand bars in the background closed in the middle and later on I found absorption of demand, which is a sign of weakness. Supply cluster at the price of $1,178.45 looks strong. So, watch for potential selling opportunities. The first downward target is set at the price of $1,171.35.

Trading recommendations for today: Watch for potential selling opportunities.




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  #163  
Old 14-12-2016, 22:27
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been moving sideways at the price of $1,163.44. According to the 30M time frame, the price is trading above 21 SMA, which is a sign of strength. According to market profile analysis, yesterday's point of control is set at the price of $1,158.50. Today, buyers are in control and I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of $1,168.00 and Fibonacci expansion 161.8% at the price of $1,177.50. Besides, there is a swing high is at the price of $1,165.40 (first upward target).

Trading recommendations for today:
Buyers are in control today. Watch for buying opportunities on dips.




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  #164  
Old 16-12-2016, 20:31
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading sideways at the price of $1,130.80. Using the market profile, I found today's point of control at the price of $1,133.30 on the 30M time frame. The price is trading below 21SMA, which is a sign of weakness. Watch for selling opportunities.The short-term trend is bearish. The downward target is set at the price of $1,122.95.

Trading recommendations for today: Watch for selling opportunities on pullbacks




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  #165  
Old 20-12-2016, 21:20
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, the gold has been trading downwards. The price tested the level of $1,127.90 in a high volume. Using the market profile, I found today's point of control at the price of $1,132.55 on the 30M time frame. I found support at the price of $1,127.90. Watch for buying opportunities if the price rejects from support. The upward target is set at the price of $1,138.75. Anyway, if the price rejects the support, watch for selling opportunities with the first downward target at $1,122.90.

Trading recommendations for today:
Watch the price action near the support at $1,127.90 to confirm further movement.




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  #166  
Old 23-12-2016, 11:20
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, the gold has been downwards. As I expected, the price tested the level of $1,128.14. Using the market profile, I found today's point of control at the price of $1,130.90 on the 30M time frame. According to the 30M time frame, I found that price is trading below the 21SMA and that there is sluggish demand in the background, which is a sign of weakness. Watch for selling opportunities on the pullbacks. Downward targets are set at the levels of $1,128.20 (yesterday's low) and $1,125.85.

Trading recommendations for today:
watch for selling opportunities on the pullbacks.




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  #167  
Old 28-12-2016, 20:29
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,137.24 in a high volume. Both downward targets from yesterday has been met. Using the market profile, I found yesterday's point of control at the price of $1,136.80 on the 30M time frame. According to the 30M time frame, I found buying climax and trap upwards move in the background, which are a major sign of weakness. My advice is to watch for potential bearish opportunities due to massive climax in the background. Downward target is set at the price of $1,135.80.Anyway, if the price breaks the level of $1,144.00, gold may re-test the high at the level of $1,150.00.

Trading recommendations for today:
watch for potential selling opportunities due to massive buying climax in the background.




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  #168  
Old 30-12-2016, 16:39
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. The price tested the level of $1,163.03 in an average volume. According to the 30M time frame and using the market profile, I found yesterday's point of control at the price of $1,148.00. Besides, there is a buying climax in the background, but the price broke that climax bar high, which is a sign that strength is still present. My advice is to watch for a potential breakout of supply trend line to confirm further upward continuation. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 61.8% at the price of $1,163.00, Fibonacci expansion 100% at the price of $1,166.80 and Fibonacci expansion 161.8% at the price of $1,172.00.

Trading recommendations for today:
Watch for potential buying opportunities if the price breaks supply trend line.




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  #169  
Old 03-01-2017, 19:49
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,146.68 in an high volume volume. According to the 30M time frame and using the market profile, I found yesterday's point of control at the price of $1,159.45. Besides, there is a buying climax in the background and the price didn't sustain the higher level, which is a major sign of weakness. According to the 1H time frame, I found a confirmed head-and-shoulders formation. My advice is to watch for potential selling opportunities on the pullbacks. Targets are set at the price of $1,145.00 and $1,137.15.

Trading recommendations for today:
Watch for potential selling opportunities due to confirmed weakness in the background.




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  #170  
Old 05-01-2017, 20:56
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. As I expected, the price tested the level of $1,179.15 in a high volume. According to the 30M time frame and using the market profile, I found yesterday's point of control at the price of $1,165.15. Intraday trend is bullish and my advice is to watch for buying opportunities on the dips. I have placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 161.8% at the price of $1,184.00. There is also an upward channel, which is a sign that buyers are in control. A good level for potential long positions is set at the price of $1,167.50.

Trading recommendations for today: Watch for potential buying opportunities.




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  #171  
Old 06-01-2017, 10:43
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. As I expected, the price tested the level of $1,184.75 in a high volume. My upward target at the price of $1,184.70 has been met. According to the 30M time frame and using the market profile, I found yesterday's point of control at the price of $1,173.40. The intraday trend is bullish and my advice is to watch for buying opportunities on the dips. The upward target is set again at the price of $1,184.80.

Trading recommendations for today: Watch for potential buying opportunities.




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  #172  
Old 12-01-2017, 07:51
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. The price tested the level of $1,191.10 in an average volume. According to the 30M time frame, I found a fake breakout of yesterday's high, which is a sign of weakness. There is also a divergence in the Moving Average Oscilator. The price made a higher high and the oscilator made a lower high. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,184.50. Using the TPO Chart, I found yesterday's point of control at the price of $1,184.00. Anyway, if the price breaks the level of $1,191.10 in a high volume, we may see potential testing of $1,195.00

Trading recommendations for today: Watch for potential selling opportunities.




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  #173  
Old 13-01-2017, 12:17
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. The price tested the level of $1,206.74 in an average volume. According to the 30M time frame, I found divergence in the Moving Average Oscilator. The price made a higher high and the oscilator made a lower high. My advice is to watch for potential selling opportunities. Anyway, the good selling opportunity will be only if the price breaks the upward trendline. Downward target is set at the price of $1,187.90 (point of control.) The intraday trend is still bullish. As long the price is trading above the upward trendline, watch for buying opportuniites. Targets are set at the price of $1,210.00 (Fibonacci expansion 100%) and $1,233.00 (Fibonacci expansion 161.8%).

Trading recommendations for today:
Divergence on oscilator in creation. Watch for a potential breakout of the upward trendline for selling opportunity.




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  #174  
Old 18-01-2017, 20:11
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading sideways at the price of $1,212.14, heading upwards. On the 4H time frame, I found an upward channel, which is holding successfully and also there is successful rejection from 25SMA displaced 5, which provides good support. The trend is bullish and you should look for buying opportunities. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of $1,221.80 and Fibonacci expansion 161.8% at the price of $1,233.00.

Trading recommendations for today:
Watch for buying opportunities on dips.




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  #175  
Old 20-01-2017, 14:57
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading sideways at the price of $1,203.00. In the 4H time frame and using the Ichimoku cloud, I found that there is potential space for a downward correction. I found cross Tenkan sen-Kijun sen which is a sign for potential weakness and it is weak sell signal on 4H time frame. Anyway, according to the 1H time frame, I found that price has broken the Ichimoku cloud for downside, which is also a sign of weakness. Pay attention on downward levels at $1,195.85 and $1,178.55. Watch for potential selling opportunities.

Trading recommendations for today:
Watch for selling opportunities.




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  #176  
Old 25-01-2017, 07:09
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading sideways at the price of $1,213.00. In the Daily time frame and using the Ichimoku cloud, I found that price is in the Ichimoku Cloud (equilibrium). The trend according to the daily time frame is neutral to bearish. According to the 30M time frame, I found potential double top formation and bearish divergence on Moving Average Oscilator, which is a sign of weakness. Anyway, to confirm this view price should break the level of $1,209.30. If the price breaks the level of $1,209.30, Gold may visit the level of $1,199.00 - $1,196.00.

Trading recommendations for today:
Watch for potential selling opportunities.




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  #177  
Old 26-01-2017, 17:51
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,191.69. My previous analysis is still valid. According to the 30M time frame, I found another bearish divergence on a Moving Average Oscilator, which is a sign of weakness. My advice is to watch for selling opportunities on the pullbacks. Downward targets are set at the price of $1,188.60 and $1,177.60. The short-term trend is downward.

Trading recommendations for today:
Watch for potential selling opportunities.




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  #178  
Old 27-01-2017, 18:31
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,181.31. According to the 30M time frame, I found unconfirmed bullish divergence on a Moving Average Oscilator, which is a sign of potential strength. To confirm bullish divergence, the price needs to break the level of $1,191.50. Anyway, the trend is still bearish and Gold could visit the level of $1,177.50. Watch for selling opportunities on the pullbacks as long the price has not confirmed bullish divergence.

Trading recommendations for today: Watch for potential selling opportunities.




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  #179  
Old 31-01-2017, 09:46
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upawrds. The price tested the level of $1,195.71. According to the 30M time frame, I found confrmed bullish divergence on a Moving Average Oscilator, which is a sign of potential strength. My advice is to watch for buying opportunities. Targets are set at the price of $1,202.70 and $1,207.60.

Trading recommendations for today:
Watch for potential buying opportunities.




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  #180  
Old 03-02-2017, 02:48
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. The price tested the level of $1,225.33. According to the 4H time frame, I found a broken resistance zone and broken Fibonacci expansion 61.8%, which is a sign of strength. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of $1,232.55 and Fibonacci expansion 161.8% at the price of $1,254.00. Short-term trend is bullish. Watch for buying opportunities on the dips.

Trading recommendations for today:
watch for potential buying opportunities.




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  #181  
Old 03-02-2017, 11:35
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Gold price made new highs yesterday and confirmed that the shallow pullback towards $1,180 ended the entire correction of the move from $1,122 to $1,220. Gold trend is bullish and is expected to reach $1,280-60 soon. Bulls do not want to see Gold below $1,1197 and specially below $1,180.

Gold is trading above the Ichimoku cloud. The price is making higher highs and higher lows. Support is at $1,197 and the next one is at $1,180. Resistance is at $1,226 and the next one is at $1,250. Gold did not make a deep pullback towards $1,160 as I initially expected. The shallow retracement is another indicator of the strong bullish trend in Gold.

The weekly candle has re-entered the Ichimoku cloud. If the week closes with price inside the cloud, I will expect the upper cloud boundary to be reached soon. Gold has made an important long-term low at $1,122 and which is of similar importance to the $1,045 low of 2015. I expect a big upward move for Gold this year above $1,400.




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  #182  
Old 07-02-2017, 18:09
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. As I expected, the price tested the level of $1,235.70. According to the 30M time frame, I found a hidden unconfirmed bearish divergence in the background and broken upward trendline, which is a sign of potential weakness. My advice is to watch for potential selling opportunities. The price also broke previous support at the level of $1,231.40. I have placed Fibonacci retracement to find potential downward targets. I got Fibonacci retracement 38.2% at the price of $1,224.50 and Fibonacci retracement 61.8% at the price of $1,217.70.

Trading recommendations for today: watch for potential selling opportunities.




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  #183  
Old 08-02-2017, 19:25
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. The price tested the level of $1,239.78. According to the 4H time frame, I found successful rejection from lower diagonal of upward channel. The trend is bullish. Based on 1H time frame, I have found broken horizontal base, which is a sign that an upward trend may continue. I projected Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 161.8% at the price of $1,252.00

Trading recommendations for today: watch for potential buying opportunities.




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  #184  
Old 10-02-2017, 00:03
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. As I expcted, the price tested the level of $1,244.77. According to the 4H time frame, I found successful rejection from lower diagonal of upward channel. The trend is still bullish. Based on 1H time frame, I have found broken symmetrical triangle, which sign that gold may continue with upward movement. Target is set at the price of $1,252.00 (Fibonacci expansion 161.8%).

Trading recommendations for today:
watch for potential buying opportunities.




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  #185  
Old 10-02-2017, 13:50
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading downwards. The price tested the level of $1,221.70. According to the 15M time frame, I found bullish hidden divergence in the progress. My advice is to watch for potential buying opportunities. There is a broken supply trendline in the background. I have placed Fibonacci retracement to find potential upward targets. I got Fibonacci retracement 38.2% at the price of $1,230.35 and Fibonacci retracement 61.8% at the price of $1,235.70.

Trading recommendations for today: watch for potential buying opportunities.




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  #186  
Old 14-02-2017, 22:13
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,221.32. Anyway, according to the 1H time frame, I found hidden bullish divergence in creation on the moving average oscilator. There is also a potential double bottom formation. My advice is to watch for potetnial buying positions. The first target is set at the price of $1,236.50. If the price breaks the level of $1,237.00, It will confirm double bottom formation and bullish divergence.

Trading recommendations for today: watch for potential buying opportunities.




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  #187  
Old 16-02-2017, 21:36
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. As I expected, the price tested the level of $1,235.00. According to the 1H time frame, I found hidden bullish divergence and parabolic bottoming, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. Targets are set at the price of $1,244.00 and $1,255.30 (Fibonacci expansion 61.8%).

Trading recommendations for today: watch for potential buying opportunities




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  #188  
Old 17-02-2017, 18:04
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. As I expected, the price tested the level of $1,235.00. According to the 1H time frame, I found hidden bullish divergence and parabolic bottoming, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. Targets are set at the price of $1,244.00 and $1,255.30 (Fibonacci expansion 61.8%).

Trading recommendations for today: watch for potential buying opportunities.




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  #189  
Old 23-02-2017, 22:52
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, the Gold has been trading upwards. The price tested the level $1,239.00. According to the 15-minute time frame, I found a small upward channel and a strong resistance cluster around the $1,239.00 level. My advice is to watch for a potential breakout of the upward channel to confirm the downward direction. The first target is set at the price of $1,235.80.

Trading recommendations for today:
Wait for potential breakout of upward channel for potential selling positions.




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  #190  
Old 24-02-2017, 13:10
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, the Gold has been trading upwards. The price tested the level $1,239.00. According to the 15-minute time frame, I found a small upward channel and a strong resistance cluster around the $1,239.00 level. My advice is to watch for a potential breakout of the upward channel to confirm the downward direction. The first target is set at the price of $1,235.80.

Trading recommendations for today:
Wait for potential breakout of upward channel for potential selling positions.




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  #191  
Old 02-03-2017, 20:14
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, Gold has been trading sideways at the price of $1,253.00. According to the 15M time frame, I found unconfirmed hidden bullish divergence, which is a sign that Gold may go higher. To confirm bullish divergence I would like to see breakout of $1,254.50 (pivotal point). My advice is to watch for potential buying opportunities. The first upward take profit is set at the price of $1,263.45.

Trading recommendations for today:
watch for potential buying opportunities.




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  #192  
Old 03-03-2017, 16:13
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, the Gold has been trading downwards. The price tested the level $1,225.52. According to the 4H time frame, I found lower highs and lower lows, which is sign that sellers are in control. My advice is to watch for potential selling opportunities. I have placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 100% at the price of $1,223.90 and Fibonacci expansion 161.8% at the price of $1,207.60.

Trading recommendations for today:
watch for potential selling opportunities on the retracemets




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  #193  
Old 10-03-2017, 07:44
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview
Gold price tests 38.2% Fibonacci correction level that formed critical support at $1,211.30 as we mentioned this morning. We depend on the stability above this level to prefer the bullish trend for today. Now we expect the metal to regain the main bullish trend. Positive targets are seen from $1,231.13. Therefore, the scenario suggested this morning will remain valid unless the price breaches $1,211.30 and holds below it. In this case, breaking this level will push the price downward to visit the next correctional level at $1,195.28. The expected trading range for today is between $1,211.30 support and $1,231.13 resistance.




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  #194  
Old 15-03-2017, 21:17
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, Gold has been trading sideways around the price of $1,200. According to the 30M time frame, I found a broken upward channel (bearish flag), which is a sign that buying looks risky. I have placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 61.8% at the price of $1,199.00-$1,197.15 and Fibonacci expansion 100% at the price of $1,195.30. My advice is to watch for potential selling opportunities. There is also a bearish divergence on the moving average oscilator, which is another sign of weakness.

Trading recommendations for today:
watch for potential selling opportunities.




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  #195  
Old 17-03-2017, 08:50
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Gold price reached the top of the resistance area yesterday around $1,235 and is pulling back. This pullback is very critical and will determine if we are going to see $1,160 or the recent low is an important long-term low.

Blue rectangle - support Gold price tried to break above the Kumo (cloud) resistance but got rejected on the 4-hour chart. This will be an important bullish sign. We need to be patient for now. I expect this support area to be tested. If prices break below it, then the bearish scenario for a push lower towards $1,180-60 will have increased chances. If support holds, then we could see another move higher towards $1,280.

On a daily basis Gold price has stopped its rise right on the daily kijun-sen. Price could back test the tenkan-sen (red line indicator) and the cloud support at $1,215-12 area and then start its next upward move. Oscillators point higher so for now we consider the pullbacks as buying opportunities. If the $1,194 low is broken, we should expect a sharp sell off towards $1,160.



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  #196  
Old 21-03-2017, 20:36
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview
Gold price opens today's trading with clear negativity, aiming to break $1,231.13 level and attempting to settle below it. Therefore, traders should be caution, as holding below this level will push the price to test $1,211.30 before any new positive attempt. In case the daily candlestick closes above $1,231.13, we will suggest the overall bullish trend for the upcoming period. Besides, the stochastic is reaching the oversold areas, waiting to break above $1,231.13 level which will reinforce the expectations of heading towards $1,263.17 mainly. Breaking the level of $1,221.70 will put the price under more negative pressure during this day. The expected trading range for today is between $1,215.00 support and $1,250.00 resistance.




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  #197  
Old 28-03-2017, 21:04
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, Gold has been trading sideways at the price of $1,252.00. Anyway, according to the 1H time frame, I found fake breakout of the previous high and up-thrust bar, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The price is respecting middle of the Bollinger Bands, which is a sign that Gold changed trend dynamically from bullish to bearish. Downward target is set at the price of $1,242.00.

Trading recommendations for today:
watch for potential selling opportunities.




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  #198  
Old 30-03-2017, 17:00
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, Gold has been trading sideways at the price of $1,250.00. According to the 1H time frame, I found that еру price is trading inside of the downward channel, which is sign that buying looks risky. The price is also trading below the 60 period simple moving average, which is another sign of weakness. Watch for potential selling opportunities. The downward target is set at the price of $1,242.00.

Trading recommendations for today:
watch for potential selling opportunities.




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  #199  
Old 31-03-2017, 16:28
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, Gold has been trading downwards. As I expected, the price tested the level $1,239.70. According to the 30M time frame, I found that the price is trading in well-defined downward channel, which is a sign that buying looks risky. I also found hidden bearish divergence. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,235.00.

Trading recommendations for today: watch for potential selling opportunities.




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  #200  
Old 06-04-2017, 00:37
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, the Gold has been trading downward. The price tested the level of $1,252.00. Anyway, according to the 30M time frame, I have found hidden bullish divergence on the moving average oscillator, which is a sign that selling looks risky. Also, there is a doji candle in the background, which is another sign that sellers lost power and that buyers may build their positions. My advice is to watch for potential intraday buying opportunities. The upward targets are set at the price of $1,257.00 and $1,261.00. Anyway, if the price breaks the level of $1,252.00, the Gold my visit level of $1,244.50.

Trading recommendations for today:
watch for potential intraday buying opportunities.




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