10.09.201511:48 Forex Analysis & Reviews: Gold : analysis for September 10, 2015

Long-term review

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Overview:

Since our last analysis, gold has been trading downwards.As we expected, the price tested the level of $1,101.12. According to the daily time frame, we can observe a supply in an average volume . The price found support at the level of $1,101.00. Selling gold looks exhausted and I am currently neutral.

Daily Fibonacci pivot points :

Resistance levels

R1: 1,117.00

R2: 1,122.00

R3: 1,131.00

Support levels:

S1: 1,101.00

S2: 1,096.00

S3: 1,088.65

Trading recommendations: We can see signs of the strength on the chart. The trend is neutral. Wait for clear trend to confirm further direction.

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