Sunday, August 03, 2008

Gold Chart Update (XAUUSD)

Previous week action:

Gold traded between ~893$ and ~934$ which is a 41$ trading range for the week.
Open = 928$ and close 910$, third red candle in a row.

However, gold did not trade below or above any significant low or high.

Cyclical resistance zones: July 15 high of ~988$ and March 17 high (all times high) ~1032.20$.

Cyclical support zones: 12 Jun Low of ~857.45$ May 2 low of ~845.50$.

Pivot zone : ~912$

Currently the most active contract is December gold futures (GCZ8 / ZGZ8 / YGZ8)

Gold spot 8 hours linear chart

Gold spot intraday chart

2 comments:

David Miller said...

Gold will always remain strong, despite ups and downs. I enjoyed this blog and its information.

Commodity Market said...

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Commodity Market