empty
 
 
27.07.2012 10:32 AM
Gold Is Breaking Out Of Consolidation. Hold On To Long Positions.

This image is no longer relevant

 

 

Technical Outlook and Chart Setups:
Nothing has changed our bullish bias in the yellow metal until now. In fact a breakout is being confirmed at this moment. Today’s candle formations are above the cone resistance line. Gold cleared the immediate resistance placed at 1620 level yesterday and is set to extend gains further. Major support comes in at 1550 levels while bulls are now targeting above 1640 levels. Fibonacci numbers extends up to 1700 levels. Stay long for now.
Trading Recommendations:
Remain long, target 1650 and 1700.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In February we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback