Gold reached the target of 1160.00 where it declined again and therefore, we will cancel out the position we issued for subscribers ad pullback from 78.6% is dangerous despite positivity on technical indicators.

 

Gold approaches 78.6% Fibonacci at 1160.00, which was a target for our long setup; while ADX shows bullish continuation and moving averages are positive with stable moves above 1136.00.

Now, RSI is entering overbought zones and therefore, we should be careful since risk versus reward could be inappropriate for some traders ahead of NFP.

Anyway, a break above 1160.00 will expose 1175.00.

Support: 1150.00 – 1140.00 – 1136.00

Resistance  1155.00 – 1161.00 – 1175.00

Direction: Bullish

• Gold Pressured By Bearish Outside Markets   (2016-11-01 03:50:56)
• Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate   (2016-07-12 17:27:51)
• Direction: neutral   (2016-07-01 16:54:07)
• Direction: neutral   (2016-06-30 15:17:32)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-30 05:32:18)
• Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-28 05:40:46)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00   (2016-06-24 20:25:31)
• Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00   (2016-06-23 19:20:37)
• Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00   (2016-06-22 14:56:10)
• Direction: neutral   (2016-06-20 20:28:46)