GOLD, sellers would like to reach daily MA100

mario urlic forex gold 01.09.

In my last gold analysis from August 24. I have pointed at 1300/05 as a potential target for sellers and they have reach that yesterday. As you can see, they are trying to go even lower and what they want now is the daily MA100 level at 1296. This level at 1300/05 is good and some kind of psihological support and this could hold for now, but the precious metal looks bearish even before tomorow’s NFP data, what could be the strong mover again. On the way up there is strong resistance near this level at 1312/17, much stronger at 1325/30, but who can expect a reversal in a bearish sentiment like this!? What about the possibility of reversal from the  support at 1290? It’s possible technically, yes.

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2 comments

  • hey”SNIPER”
    I expect reversal from 1290-1285$ because i don’t think soon any rate high is going to happen………….
    but i will think of buy only after reversal any support is formed…… don’t want to burn my hand’s in fighting with big traders”” LIKE YOU””

    Like

    • It’s possible, yes. Monthly MA100 is placed at 1285 as well.

      Like

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