04.11.2016

Technical analysis : Gold trades below 1,300

by Dukascopy

Pair's Outlook 
The yellow metal was in a full on retreat on Friday morning, as it had erased all of Thursday's gains. However, the situation seems only temporary, as the metal is still set to surge, as it is indicated by various factors. First of all, the metal has reached the support provided by the weekly R2 at 1,296.73. Secondly, trader set up orders are mostly long. Third is the fact that daily aggregate technical indicators forecast a surge. Last but not least, the US election is not over and the drama will continue.  

Traders' Sentiment
SWFX traders have not changed their mind, as 51% of open positions remain long. Meanwhile, 60% of trader set up orders are to buy.

400

 

400

 






Events


Semptember 2015
  • 01
    Mar

    The Lead Quantitative & Asset Management Event in Europe

  • 16
    Mar

    Das Swiss Funds & Asset Management Forum ist die national führende Konferenz der Fonds- und Asset M

  • 20
    Mar

    Seize the opportunity to get up to date on the topics of secondary buyouts, the real estate bubble,

  • 15
    May

    The aim of this forum is to offer an additional incentive for pension fund representatives to visit

  • 06
    Jun

    The aim of this forum is to offer an additional incentive for pension fund representatives to visit

See All

newsletter

Updates and news from MarketPlus