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| Technical Analysis for Gold 5-8-2015 |
Gold moved yesterday in the average movement of 137 Pips, its highest level at 1094.61 and the lowest price at 1080.88 and closed at 1088.82 to Gain 25 pips According to yesterday’s economic data.
Gold opened today's trading at 1087.48 volatile between 1084and 1088 during the Asian session trading at 4 Dollar for the poor liquidity in the market range.
Gold is moving in a series of down corrective waves inside the flag to record the lower price over 66 months at 1077.15 .
It is expected that the yellow metal is heading targeting 1073 as a target on time frame of four hours and until now we see the Bulls control on market direction and the Bulls waits the first support Level to enter the market.
And the Relative Strength Indicator "RSI" show us accumulation operations at the market
Today we could see sharp trading because of the economic data from the USA
Support levels: 1081.59 and 1074.37 and 1067.86
Resistance levels: 1095.32 and 1101.83 and 1109.05
More Technical Outlook FxStations
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