| Gold opened the U.S. session last night dropped to 1257.25 , then progress to the highest level in 1264 due to the short-selling ( buying drum fill ) while the euro remained near its highest level against the dollar 6 weeks . KITCO - Gold Trading Strategy Day 12/12 Get up to 24 hours of trend : Reduce the Asian session Increase of Europe Reduce slightly early U.S. session The trading range expected : 1240-1260 |
Sell below 1260 , Stop loss in 1265 , 1245 and 1240 objectives .
Forex Yard - Gold Trading Strategy Day 12/12
The level of technical support
Resistance : 1305 - 1294 - 1279
Current Price : 1254.08
Support levels: 1242 - 1226 - 1212
Pivot : 1242
The main strategy
Buy the 1242 targets for 1279-1294
Secondary strategy : If price break below the 1242 target of 1226-1212
Verdict : Despite adjustments may continue but will be within the limits .
ScotiaMocatta - Identify trend gold price date 12/12
Gold opened the U.S. session last night dropped to 1257.25 , then progress to the highest level in 1264 due to the short-selling ( buying drum fill ) while the euro remained near its highest level against the dollar 6 weeks . And then the price fell to its lowest level during the day at 1256.50 after temporary budget agreement in the U.S., this supports the expectation of a gradual withdrawal bond purchase program by the Fed . Finally , the metal closed at 1257 level .
Gold closed down 3 points after day continuous increase , going from the lowest level to the highest level in 1268 1210 . While prices on the daily chart trend is still down from its highest level in August ( 1433 ) , the negative signal has weakened to a point where we have moved from the capital to passing trend the other day . Negative trend indicator Negative Directional Movement is now at 20 , down from the high 34 most recently . Resistance is located at 1277 , with gains of 61.8 % by July and August . Support is the recent lows at 1210 .
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