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| Technical Analysis for Gold 22-7-2015 |
Gold moved Yesterday in the average movement of 129 Pips, its highest level at 1109.73 and the lowest price at 1096.85 and closed at 1100.38 to Gain 24 pips According to yesterday’s economic data.
Gold opened today's trading at 1100.65 volatile between 1095 and 1103 during the Asian session trading at 8 Dollar for the poor liquidity in the market range, and in the European session the gold went down to 1090
Gold moves in a series of down corrective waves to record the lower price over 66 months at 1087.62 close to 161.8% fibo
The gold was trading close to our target at 1089
It is expected that the yellow metal is heading targeting 1080 as a target on time frame of four hours and until now we see the Bears control on market direction and the Bulls waits the first Support Level to enter the market
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today we could see sharp trading because of the economic data from the USA
Support levels: 1094.91 and 1089.44 and 1082.03
Resistance levels: 1107.79 and 1115.20 and 1120.67
More Technical Outlook FxStations
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