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Gold Undergoing Retracement.... Higher Levels Expected Soon

2012-11-02 11:57:00 (читать в оригинале)

Technical Outlook and Chart Setups:

Gold reversed yesterday just shy of 1,730.00 level; currently undergoing retracement. It is expected to bounce back from/between 1,710-1,715 levels and target higher towards 1,730/50 levels. It is recommended to re-enter buying at these levels again. 1,700 level should be held as support now and if the prices fall below to re-test, 1,695/90 levels should provide strong support. 1,730, 1,750, 1,780, and 1,795 levels are lined up resistance levels for the bulls to target on higher side. Bullish for now.

Trade Recommendations:

Hold long positions taken earlier, buy on intraday dips, stop at 1,680, and target open.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com