GOLD H1 Setup
Gold jumped more than 1 % to it's highest in a week on thursday as weak U.S data deepened concerns over economic growth and bolstered bets for further interest rate cuts by the federal reserve. On Wednesday the price of gold touched the resistance level in the area of 1503 and penetrated to the level of 1519 on last Thursday. Potential daily movement is still bullish above the 1503 area and has the potential to touch the level of the area 1519 to 1525. Be careful if the price breaks the level of 1503, it is likely to move deeper to the level of 1492 to the level of 1483.
Disclaimer : Forex and gold trading high risk investment. This analysis only gives a picture of traders to take positions and we not guaranteed for its accuracy. Prices cannot be ascertained up or down. use safe lot size for your own safety.
Disclaimer : Forex and gold trading high risk investment. This analysis only gives a picture of traders to take positions and we not guaranteed for its accuracy. Prices cannot be ascertained up or down. use safe lot size for your own safety.
Disclaimer
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