After breaking support at 1375 this afternoon, gold accelerated to the downside as the tensions in Syria receded. Oil fell more than $3, dragging gold down with it, with the yellow metal testing Friday's low at 1359 in the last hour.
On the short term charts, gold has recoverd in encouraging fashion from this critical support zone and is currently trading at 1364 as the market looks to form a "double bottom" at 1358-1359.
Equities have been the main recipient of the flight out of gold and oil, with the dollar barely changed on the day, the S&P is heading back towards 1700 in seemingly unstoppable mood. However, the situation in Syria can reignite at any time and tensions remain elevated.
Gold must hold the newly formed "double bottom" today to keep the charts in a constructive setting - the up trend since the 1180 lows is still in no danger of being broken, though the short term down trend is beginning to take on momentum and the bears have their eyes on the bottom of the uptrend channel at 1338 and the 50 DMA at 1325.
Support can be found at 1358-1359, 1350-1352, 1342, 1337 and 1325, with resistance at 1391-1394, 1400, 1416, 1424, 1431-1434, 1450-1453, 1488 and 1500-1505.
On the short term charts, gold has recoverd in encouraging fashion from this critical support zone and is currently trading at 1364 as the market looks to form a "double bottom" at 1358-1359.
Equities have been the main recipient of the flight out of gold and oil, with the dollar barely changed on the day, the S&P is heading back towards 1700 in seemingly unstoppable mood. However, the situation in Syria can reignite at any time and tensions remain elevated.
Gold must hold the newly formed "double bottom" today to keep the charts in a constructive setting - the up trend since the 1180 lows is still in no danger of being broken, though the short term down trend is beginning to take on momentum and the bears have their eyes on the bottom of the uptrend channel at 1338 and the 50 DMA at 1325.
Support can be found at 1358-1359, 1350-1352, 1342, 1337 and 1325, with resistance at 1391-1394, 1400, 1416, 1424, 1431-1434, 1450-1453, 1488 and 1500-1505.
Get paid to trade Gold in 3 easy steps.
1. Open your account HERE
2. Send me your MT4 trading account number and email address
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If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
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You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
In order for your payment to be processed each month, please send me an email requesting payment and stating the amount of lots you have traded and your MT4 account number between the 20th and 24th of the month.
thelordoftruth@gmail.com
1. Open your account HERE
2. Send me your MT4 trading account number and email address
3. Send me your Paypal or Moneybookers account number
If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
Moneybookers
Paypal
You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
In order for your payment to be processed each month, please send me an email requesting payment and stating the amount of lots you have traded and your MT4 account number between the 20th and 24th of the month.
thelordoftruth@gmail.com
Welcome to my blog where you can learn how to trade the Forex Market for free.The material is all created by myself and not copied from anywhere. There is a lot yet to come since there is a lot that you need to learn, and there is a lot that I need to share with you! So please just be patient – it will be worth it.You can judge by yourself the quality of information that I will be giving you . So just go now and start learning!
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In this section you will find quite a long article of what Forex is all about. If you are a beginner, this is a must read. It explains in detail what is required to start trading, what you should do and not, typical traps to avoid as a beginner and a lot of valuable information which you as a beginner must digest and learn prior opening any Forex account with real money.
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
