Gold Targets Further Weakness Towards Psycho Support At 1,300.00 Zone

Discussion in 'Forex - Currencies Forums' started by FXTechstrategy, Sep 18, 2017.

Page 1 of 3
    Sep 18, 2017
  1. FXTechstrategy

    FXTechstrategy Senior Investor

    Joined:
    Sep 2017
    Posts:
    123
    Likes Received:
    0
    GOLD: The commodity closed lower the past week to open the door for more weakness. On the downside, support comes in at the 1,310.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,280.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. All in all, GOLD looks to weaken further.

    [​IMG]
     
    FXTechstrategy, Sep 18, 2017
    FXTechstrategy, Sep 18, 2017
    #1
    2. Sep 18, 2017
  2. manoharb

    manoharb Senior Investor

    Joined:
    May 2015
    Posts:
    281
    Likes Received:
    2
    GBPUSD Mid-term target 1.3500 achieved. DJIA 1st. target 22200 achieved, 2nd. Target 22500 yet to achieve. Crude almost near 52$ target increased to new yearly high.

    European Markets and Nikkei showing recovery. overall format shows Gold will correct from here , Gold will fall upto Daily 50SMA-EMA and Daily 100SMA-EMA. Short-term Gold target Daily 100SMA. target 1290-1275$.

    https://www.investing.com/commodities/gold-technical
     
    manoharb, Sep 18, 2017
    manoharb, Sep 18, 2017
    #2
    3. Sep 18, 2017
  3. longtermbull

    longtermbull Administrator Staff Member

    Joined:
    Nov 2016
    Posts:
    1,720
    Likes Received:
    20
    I am surprised at the gold price with North Korea, Brexit, etc in the background. I thought we might have seen a stronger flight to safe havens, such as gold.
     
    longtermbull, Sep 18, 2017
    longtermbull, Sep 18, 2017
    #3
    4. Sep 19, 2017
  4. manoharb

    manoharb Senior Investor

    Joined:
    May 2015
    Posts:
    281
    Likes Received:
    2
    Buy Crude , Buy Indices and Sell Brent this is the Hedging strategy . Now Gold advised to buy with proper sl..
     
    manoharb, Sep 19, 2017
    manoharb, Sep 19, 2017
    #4
    5. Oct 3, 2017
  5. manoharb

    manoharb Senior Investor

    Joined:
    May 2015
    Posts:
    281
    Likes Received:
    2
    manoharb, Oct 3, 2017
    manoharb, Oct 3, 2017
    #5
    6. Oct 8, 2017
  6. longtermbull

    longtermbull Administrator Staff Member

    Joined:
    Nov 2016
    Posts:
    1,720
    Likes Received:
    20
    What next for gold? Current price circa $1280 an ounce.
     
    longtermbull, Oct 8, 2017
    longtermbull, Oct 8, 2017
    #6
    7. Oct 11, 2017
  7. manoharb

    manoharb Senior Investor

    Joined:
    May 2015
    Posts:
    281
    Likes Received:
    2
    Buying started in Gold. buy at 1280$, current rate 1290$ target new 1365-1380$ sl. 1264$ short-term
     
    manoharb, Oct 11, 2017
    manoharb, Oct 11, 2017
    #7
    8. Nov 28, 2017
  8. manoharb

    manoharb Senior Investor

    Joined:
    May 2015
    Posts:
    281
    Likes Received:
    2
    Strategy, Targets changed. Gold sell for 1200$ now, Crude buy below Daily 50SMA-EMA and DowJones buy on every dip.
     
    manoharb, Nov 28, 2017
    manoharb, Nov 28, 2017
    #8
    9. Nov 30, 2017
  9. longtermbull

    longtermbull Administrator Staff Member

    Joined:
    Nov 2016
    Posts:
    1,720
    Likes Received:
    20
    From what I see the gold price seems to be bouncing around a major support level at $1270ish - interesting times. I would have thought gold would be in demand with all of the issues around the world.
     
    longtermbull, Nov 30, 2017
    longtermbull, Nov 30, 2017
    #9
    10. Dec 1, 2017
  10. Chartman

    Chartman Senior Investor

    Joined:
    Sep 2017
    Posts:
    703
    Likes Received:
    8
    It seems to me as though investors are discounting many of the major issues such as North Korea and Donald Trump! Hence the reason why gold is not racing ahead - will they regret this?
     
    Chartman, Dec 1, 2017
    Chartman, Dec 1, 2017
    #10
Page 1 of 3

Share This Page