GOLD, fall true the ‘August support’

mario urlic forex gold 24.08.

Gold sellers pushed the precious metal true the ‘August support’ at 1330 and they have reached 1324.84 low for now. Is this break? Depens on wich level gold will close the day and that’s why I have wrote fall, not break. Looks bearish after breaking of the H4 simetrical triangle two days ago on wich I was pointed here in my gold analysis and that was the reason of this fall furder on. There is support trend line at 1320, stronger support at 1310/12 and the main one at 1300/05 level as target for sellers. On the way up, 1332 is the first resistance now, 1336/38 the stronger one.

Advertisements

One comment

  • hey “SNIPER”
    I missed to short when it touched 100-200 sma and down trendline on 1hr chart at 1342$-1343$…..
    but I will not jump on market to trade and will wait for any other setup with patience…..
    thanks again for your updates……

    Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s