22.09.201606:30 Forex Analysis & Reviews: Gold Technical Analysis for September 22, 2016.

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Technical outlook and chart setups:

Gold has almost achieved minimum expectations by hitting highs at $1,335.00 level yesterday. The metal is seen to be trading at $1,333.00 level at the moment, looking to drop lower at least as a retracement. The wave structure indicates that Gold might have completed its counter trend rally yesterday and the metal should resume its drop lower towards fresh lows. This probability would be confirmed once it breaks below $1,320.00 level. Immediate resistance is seen at $1,340.00 level, while support is at $1,320.00 level respectively. It is hence recommended to take profits on long positions now and aggressive traders may initiate short positions with risk at $1,355.00 level. Please note that the metal looks to be into its last leg (wave 5) rally and it is still expected to rally through $1,380.00/90.00 levels going forward, probabilities are turning less though.

Trading recommendations:

Book profits on long positions taken earlier. Aggressive trade setup is to go short, stop is above $1,355.00, a target is open.

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.