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Gold Retracement Continues, 1,730/35 Levels Insight

2012-11-28 11:14:57 (читать в оригинале)

 Technical Outlook and Chart Setups:

The yellow metal is gradually retracing towards the trendline support, which comes around 1,730/35 region at the moment. Furthermore, this region is also re-enforced by the past resistance turned support area. If a bounce is produced around 1,730 level, it will be recommended to enter buying again. Support is at 1,720 followed by strong support (the proposed right shoulder of the inverse head and shoulder); while resistance is at 1,765/70 followed by 1,785 region.

Trading Recommendations:

Flat for now, looking to re-enter buying around 1,730/35.

Good Luck!

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