Technical analysis on Gold Futures on December 30, 2015


The price of Gold Futures again fixed below the moving average, but continue the downward movement can not. Senior Channel directed downward, indicating that the downward direction of movement of the global trend. Junior channel directed upward, which means the upward direction of travel in the medium term. At the moment the price is below the moving average, and below the level of Murray's "1/8" indicates that the downstream traffic in the near future. The first target for the downward movement, so is the level of Murray's "0/8" - 1062.50. If the price will overcome this level of Murray, the new target will be the actual level of Murray "-1/8" - 1046.88. The moving average is pointing down, and the price is below it, so now more likely downward movement in the near future.

4-hour timeframe

Technical analysis on Gold Futures on December 30, 2015

Technical data:

  • Senior channel linear regression: direction - down
  • Junior channel linear regression: direction - upward
  • Moving average (20; smoothed) - Sideways
  • CCI: - 64.7978

The nearest support levels:

  • S1 - 1062,50
  • S2 - 1046,88
  • S3 - 1031,25

Nearest resistance levels:

  • R1 - 1078,13
  • R2 - 1093,75
  • R3 - 1109,38

Trading recommendations:

Analyzing the price of gold futures are now encouraged to consider short positions with the target of 1062.50. Next Target, in the case of the first to overcome is 1046.88. Stop Loss level is above the moving average is recommended. With the passage of 1500-2000 points, stop loss can be transferred to the zero level. Take Profit can be placed just above the nearest levels Murray. Long positions are not relevant to the price fixates above the moving average.