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| Technical Analysis for Gold 3-8-2015 |
Gold moved last Friday in the average movement of 235 Pips, its highest level at 1109.30 and the lowest price at 1079.83 and closed at 1094.82 to Gain 66 pips According to Friday’s economic data.
Gold opened today's trading at 1095.63 volatile between 1092 and 1097 during the Asian session trading at 5 Dollar for the poor liquidity in the market range.
Gold is moving in a series of down corrective waves inside the flag to record the lower price over 66 months at 1077.15
It is expected that the yellow metal is heading targeting 1083 as a target on time frame of four hours and until now we see the Bears control on market direction and the Bulls waits the first support Level to enter the market
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today we could see sharp trading because of the economic data from the USA
Support levels: 1080.00 and 1065.18 and 1050.53
Resistance levels: 1109.47 and 1124.12 and 1138.94
More Technical Outlook FxStations
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