Analysis of gold prices today – Aug 9

Gold price technical analysis 17 - June, 2013

Moved the gold market is very simple during the session on Wednesday, where we remain mired in area which control this market since the beginning of summer. $ 1640 level at the top is the top of the consolidation of these, you will be movement on that level that causes us to buy this market with sincerity.

For the top-down view, we must see the penetration level of $ 1500 where we see that that is the point of changing the style in the market. In the event of that order, we will sell this market is strong where it will certainly fall apart. With this, through the scene to the last movement, we can see that the dips continue to be higher gradually, it seems that the pressure builds up towards the top.

In general, we prefer that we buy in the markets of gold but do not see an opportunity until now. Likely we will see a surge towards the top when the Federal Reserve Bank of facilitation, which he sees the market now.