Spot Gold Prices
This report has been deactivated
Gold Trading Analysis 24 Aug 2009
Mon, Aug 24 2009, 22:22 GMT
by Anna Coulling
Master The Markets | View company's profile

The pullback outlined in yesterday's gold trading post arrived today
with some force on the daily gold trading chart, ending the trading
session with a wide spread down candle which closed below the 9 day and
14 day moving averages, but which seemed to find some support from the
40 day moving average once again. However, today's gold trading price
action is concerning for gold bulls for several reasons. Firstly as
discussed yesterday, any failure at the $955 price level would indicate
that the resistance at this level has held firm technically. Secondly a
failure at this level would create a series of lower highs since early
August, which again is not a positive signal, and finally with a breach
of both moving averages this is adding the the general bearish tone for
gold prices at present. This consolidated trading range on the daily
gold chart is now becoming increasingly difficult to forecast from a
technical analysis perspective and with the fundamental news now
appearing to drive gold prices, the technical weight of any analysis
seems diminished at present. Until we see a clear breakout above the
$970 per ounce level, or alternatively a fall below the $905 per ounce
region, any gold trading opportunities will be limited to intra day
scalping rather than longer term trend trading, and given the bearish
nature at present, I would suggest looking for small short positions
tomorrow with tight stop losses and small profit targets using the 30
minute gold charts.
Published on
Mon, Aug 24 2009, 22:27 GMT
Archive
- Gold Trading
Published On Wed, Sep 16 2009, 07:32 GMT
- Gold Price
Published On Tue, Sep 15 2009, 07:18 GMT
- Spot Gold Prices
Published On Sun, Sep 13 2009, 12:21 GMT
- Spot Gold Price Breakout
Published On Sun, Sep 13 2009, 11:13 GMT
- Spot Gold Prices
Published On Wed, Sep 9 2009, 12:40 GMT
[ View All ]
Legal disclaimer and risk disclosure
The information on my web sites and blogs are for your general education only. Trading involves high risk and prices and values of all financial investments and instruments can go down as well as up. All the charts are shown for education purposes only and the words buy or sell are only shown to illustrate a point. All analysis, examples and commentary are provided for educational purposes only, and are strictly on a non-advisory basis. I will not be held responsible for your trading or investing results after reading these sites sites and my trades are not solicitations to buy or sell. I will not be held liable for any loss, howsoever arising, caused by anyone's reliance on information obtained from these sites.
Vote:

1

0
Related reports
Dollar Benefits From Greek Woes by Forexnews.com
Sun, Mar 21 2010, 22:28 GMT
U.S. Forex Market Commentary by GCI
Sun, Mar 21 2010, 22:22 GMT
Continued Economic Recovery, Low Inflation by Wells Fargo Investments, LLC
Fri, Mar 19 2010, 19:58 GMT
Discount rate discussions keeping floor under bonds by Interactive Brokers LLC
Fri, Mar 19 2010, 14:29 GMT
GoldCore Update: Sterling Gold Near Record Highs as Election Looms and Economic Outlook Uncertain by GoldCore
Fri, Mar 19 2010, 14:28 GMT
indicator, gold
[ View All ]
Related content
Australia Feb New Motor Vehicle Sales (MoM) up to -1.9% vs -3.4%
FXstreet.com | Mon, Mar 22 2010, 00:32 GMT
Value of Yuan, the other great market uncertainty
Forex Live | Mon, Mar 22 2010, 00:18 GMT
Gold price stays put above $1,100.00
FXstreet.com | Mon, Mar 22 2010, 00:11 GMT
Indices: FTSE closes with loses, correction
FXstreet.com | Fri, Mar 19 2010, 16:39 GMT
Commodities: Oil collapse follows risk-market reversal
AAP | Fri, Mar 19 2010, 14:49 GMT
indicator, gold
[ View All ]
ForexHedge » European Breakouts for Week # 12
Mon, Mar 22 2010, 02:47 GMT
The FX Trader’s Link » Higher CPI in Canada keeps the currency supported
Fri, Mar 19 2010, 12:11 GMT
The FX Trader’s Link » EURUSD pressured and SNB comments sends EURCHF down
Fri, Mar 19 2010, 01:44 GMT
Índice BSI - Todas las industrias (QoQ) Japón baja a -2.4 en 1Q desde -1.9
Wed, Mar 17 2010, 23:59 GMT
Tech Trading » Gold: Head and Shoulders Formation??
Wed, Mar 17 2010, 20:17 GMT
indicator, gold
[ View All ]
How to Install Metatrader Indicators - Forex Forum - FXstreet.com
Thu, Mar 4 2010, 07:36 GMT
Sessions - Forex Forum - FXstreet.com
Thu, Mar 4 2010, 07:36 GMT
Bear Bull Power - Forex Forum - FXstreet.com
Thu, Mar 4 2010, 07:36 GMT
B Clock - Forex Forum - FXstreet.com
Thu, Mar 4 2010, 07:36 GMT
AMA Slope - Forex Forum - FXstreet.com
Thu, Mar 4 2010, 07:36 GMT
indicator, gold
[ View All ]
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 29th Edition
Wayne McDonell | Fri, Oct 3 2008, 11:30 GMT
Back to Basics: RSI
Adam Rosen | Mon, Oct 13 2008, 13:00 GMT
Dan Blystone's Daily Briefing
Dan Blystone | Wed, Oct 15 2008, 16:00 GMT
Dan Blystone's Daily Briefing - Free Access Day
Dan Blystone | Thu, Oct 16 2008, 16:00 GMT
Back to Basics: MACD
Adam Rosen | Wed, Oct 22 2008, 14:00 GMT
indicator, gold
[ View All ]
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2010 "FXstreet.com. The Forex Market" All Rights Reserved.