empty
 
 
20.12.2013 02:49 PM
Gold analysis for December 20, 2013

Gold prices are unfolding in a downward impulsive move which we label as wave 5 of the decline that started at 1,360. We expect prices to continue lower towards our Head and shoulders target of 1,140. First support area is the previous low at 1,179 which can provide a small upward bounce.

This image is no longer relevant

Trend remains downward and bears should feel comfortable as long as prices continue to trade below wave (2) high and below the purple downward sloping resistance trend line. Short term support is found at 1,179 and then at 1,120-1,140.

This image is no longer relevant

The daily chart confirms our bearish view which was our preferred wave scenario. Prices are moving downwards in an impulsive pattern making lower lows and lower highs. We expect this downward move to continue to new lows.

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $9000 more!
    In May we raffle $9000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback