17.02.2017

Technical analysis : Gold remains above 1,235 level

by Dukascopy

Pair's Outlook 
The yellow metal traded rather flat on Friday morning, as it found support in the monthly R1, which is located at 1,237.68. The bullion retreated to that level after it stopped and reversed its surge in the second half of Thursday's trading session. Gold has two possible future scenarios. Either the bullion finds enough strength in the support level to rebound and approach the 1,245 level, or the yellow metal will fail at that and begin a move lower. A move lower would result in a fall to the weekly PP, which is located at 1,232.24. 

Traders' Sentiment 
Traders are long on the metal, as 55% of SWFX trader open positions are bullish. In addition, 57% of trader set up orders are to buy the bullion.

400

 

400


Events


Semptember 2015
  • 24
    Oct

    Two years after two historic global agreements were established, leaders and other change agents in

  • 25
    Oct

    Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.

  • 30
    Oct

    The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the

  • 31
    Oct

    Dieser Event ist ausschliesslich für Pensionskassenvertreter (Stiftungsräte, CEOs, Anlageverantwor

  • 01
    Nov

    Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor

See All

newsletter

Updates and news from MarketPlus

Market Overview
SMI® PR9237.130,04 %
LYXOR DAX INAV123.9740,01 %
FTSE MIB Index22346.850,96 %
FTSE 1007523.230,00 %
CAC 405372.380,08 %
S&P 5002575.210,51 %
NASDAQ Composite6629.05320,36 %
HANG SENG INDEX28487.241,15 %
Powered by Yahoo Finance