Gold analysis for January 23, 2014
Gold has been trading sideways around the price of 1.295.00. I have got support around the price of 1,281.00, and this level is effectively resisted.
Consequently to the H4 time frame, we can see poor supply in a volume below the average that is a indication that selling gold at this range might be risky.
Be cautious while selling Gold and look for possible buying opportunities on the lows. We have found resistance levels at the price of 1,304.00 and 1,344.00.
Daily Fibonacci pivot points :
Resistance levels :
Support levels :
Trading suggestions: Wait for possible buying opportunities after retracement.