ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

Gold Is Trapped In A Narrowing Price Band Lacking In Directional Bias

Share On Facebook
share on Linkedin
Print

Gold did not have a strong directional inclination and traded in a limited exchanging band around the $ 1,575 level during the early European session on Friday. The blend of separating powers couldn’t give any new catalyst or support the valuable metal to build up a positive shift of the previous session to the tops in a week.

©

XAUUSD Price Analysis – February 14

Key Levels
Resistance Levels: $ 1611, $ 1595, $ 1585
Support Levels: $ 1550, $ 1540, $ 1517

XAUUSD Long term Trend: Bullish

The metal has printed lower highs and higher lows since it reached $ 1,611.49 level in early January. This took the form of a tapering price band or a declining triangle.

Admitting past the upper limit may mean the resumption of the uptrend from November lows of about $ 1455.70 level and may lead to a move past the recent high of $ 1611.49 level.

Marvin Steinberg und seine Sicht auf den STO-Markt: Marvin Steinberg

XAUUSD Short term Trend: Ranging

The day after a slight decrease in price, gold came back to the resistance region of $1575 – $1578 levels. With the RSI indicating a potential move higher, we could see some expansion in force.

However, gold requires to get through the barrier zone to affirm further advancement and besides, it additionally needs to break past the recent highs to keep up an upswing.

Instrument: XAUUSD
Order: Buy
Entry price: $1,575
Stop: $ 1,563
Target: $1,580

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

 

Source: https://learn2.trade

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com