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KITCO - gold day trading strategy 19/12 Sideways Asian session Modest increases of Europe Reducing the U.S. session The trading range expected : 1215-1235 Trading strategy : Sell below 1235 , target 1225 and 1215 . Stop loss above 1240 . Forex Yard - Gold Trading Strategy Day 19/12 Pivot : 1250 Key Strategy : Sell below 1250 target for the 1212-1197 Secondary strategy : If break 1250 targets for 1268 -1279 Comment : The RSI is below 30 The level of technical support Resistance : 1279 - 1268 -1250 Current Price : 1218.18 Support levels: 1212 - 1197 - 1180 |
ScotiaMocatta - Identify trend gold price date 19/12
Gold opened the U.S. session last night at 1233 , then dropped to the lowest level by 1228.50 U.S. government debt fell after the housing data was very positive , rising to its highest level in nearly 6 years as of May 11/2013 . However, gold prices have increased again , to 1238.50 at the highest level and stable dollar adjustment at the end of the day and closed at 1235 .
Choppy trading after the Federal Reserve announced a gradual withdrawal bond purchase program to 75 trillion in January 1/2014 .
Thus, gold has closed overnight rise in 1235 , but remained in sideways range for nearly 1 month . This makes the ADX trend indicator weakened considerably , from recent highs at 43.46 to $ 31.84 now . The bearish trend continues but the momentum has weakened . Therefore, the price of gold should move down here at the bottom of nearly 1210 new trend that intensified. If gold broke above the most recent high margin in 1268 is likely to appear round some short selling ( buying drum fill ) .
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