29 Sept 2014 XAU/USD Gold Analysis


Gold, XAUUSD, XAU/USD, Technical analysis, gold price Candlesticks show an exhaustion as Gold trades towards the low of the range

Gold, XAUUSD, XAU/USD, Technical analysis, gold price Gold remains resisted below 1226 as the true range finds 1230 resistance hard to overcome

Gold, XAUUSD, XAU/USD, Technical analysis, gold price Overbought signals are aplenty as the prices resist at 1226 and looks to form a higher low

As more conflict arises, more parties get involved, the return of the gold bulls might just occur at the lower range of 1200, with 1208 attained last week and supported. The demand for safer haven assets like Gold is almost always representative when the U.S dollar falls and other countries joining in for combat, this time in Syria and possibly cooperation with the U.K in Iraq.

Technical analysis shows no signs of a full fledged rebound and supports 1215, 1208,1200 and 1198 are to watch for a good trade with excellent reward to risk ratio

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish/ near support 1198 1208 1215 1226 1232 1240

 

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