Analysis of gold prices today – July 30, 2012

Gold price technical analysis 17 - June, 2013

Passed the gold markets progressive hearing on Friday, took control of the markets where expectations that central banks around the world will begin facilitation again. Still the level of $ 1640 at the top directly resistant to our knowledge, and therefore we are not ready to buy yet.

When the daily closing price on top of that, we will be very willing to take long positions in terms that will see the acceleration levels of gold to $ 1700 and $ 1800 thereafter.

Gold for sale, we do not see it at this time, as the dips began to retreat with time. We simply wait to tell us when the market is willing to continue to rise value, and then join to the situation.

Gold prices over the past week

Gold prices rose during the last week seemed as central banks around the world is ready to start facilitation again. But, we sit under a very strong resistance level at $ 1640 area, and therefore we are waiting for to buy in this market. Also do not prefer the long side of it unless we felt that the level of $ 1500 will be a major support level, and therefore already know the direction that we want, a long, but the need to signal to do so. We believe that after passing the $ 1640 level, it is easy to reach this market to 1700 and perhaps even to 1800 $ with the end of this year.

In order to start selling in this market, we will need to see the level of penetration of $ 1500 by the sales force. Which we do not expect to happen soon.