By Admiral Markets
Source: Admiral Markets MT5
The Gold is congesting between D L3 and D H3 – classic daily support and resistance levels. If the price breaks and closes above 1317.29 we might see 1322 and 1327. A cluster of resistance levels waits above 1330, and the price would need a strong momentum to reach the final daily target D H5 – 1333.96. Momentum and price close below 1314.51 could aim for 1307.84 and 1303.39. Today is Friday, and we can expect profit taking so watch out for the indicated breakouts.
W H3 -1.2055 should give another upside boost to the pair.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
Free Reports:
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
Follow @TarantulaFX on twitter for latest market updates
Sign up for Live Trading Webinars with Nenad Kerkez T
Connect with Nenad Kerkez T on Facebook for latest market update
Article by Admiral Markets
Source: GOLD is Congesting Between D L3 and D H3 Camarilla Pivot
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.