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FX.co ★ Intraday trading recommendations for Gold for September 19, 2014

Intraday trading recommendations for Gold for September 19, 2014

Intraday trading recommendations for Gold for September 19, 2014

The metal was unable to breach the resistance at $1,242, again moving to lower levels to its near-term targets at $1,210, $1,200, $1,190, $1,185 and even $1,150 levels. We have been recommending selling on every up move from $1,276 levels. The metal has strong resistance at 20Dsma $1,256.60; until it closes below this, selling on an up move will mint the money. In a monthly timeframe, the metal was rejected twice at 20Dsma.

Intraday trading recommendations for Gold for September 19, 2014

For an intraday veiw, the metal is trading at $1,223.50 levels. The prices are below 12ema and 34hrsma, representing further bullishness. The metal has last support at $1,223, below this, weakness is expected again towards $1,218 and $1,215.50, below these, $1,210 and $1,200 levels. The metal has resistance at $1,226, $1,229 and $1,232.

Fresh safe buying only above $1,232.

Safe selling only below $1,215.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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