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| Technical Analysis for Gold 6-8-2015 |
Gold moved yesterday in the average movement of 95 Pips, its highest level at 1092.43 and the lowest price at 1082.85 and closed at 1084.33 to Lose 31 pips According to yesterday’s economic data.
Gold opened today's trading at 1084.87 and in a suddenly movement fall down to 1081.28 and held steady volatile between 1083 and 1087 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 1093 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: 1080.64 and 1076.95 and 1071.06
Resistance levels: 1090.22 and 1096.11 and 1099.80
More Technical Outlook FxStations
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