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Gold Developing Two Scenarios

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Sep 27, 2010.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
    Likes Received:
    Today’s sample of Futures Analysis from FuturesHound.com

    December Gold had an inside day on Monday indicating developing volatility and slowing down the pace of the recent rally. The swing chart indicates that $1318.10 is the next upside target on October 4, but the Gann angle formation is indicating something else.

    Based on the current short-term range of 1237.90 to 1301.60, there may be a correction back to 1269.75 to 1262.25 before this market moves higher. In addition, the market may stop on an uptrending Gann angle at 1285.90.

    What traders have to remember is that trades back into the Gann angle or retracement zone will not necessarily negate the uptrend, but could serve as buying opportunities. Like any other investment vehicle, investors want value. In this case, Gold may have become too expensive. In addition, weak traders have to be forced out to set up the next buying opportunity.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the 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 should not invest money that you cannot afford to lose.

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