InstaForex

Support/Resistance of the Day - Gold (3 June 2011)

Friday, June 3, 2011

H4 Chart

R3 1557.67
R2 1548.15
R1 1542.28
Pivot 1532.77
S1 1523.25
S2 1517.38
S3 1507.87

Gold become volatile nowadays,we can see gold price drop for $20-30 yesterday a just a few hours abd pull back to the current pivot level. We should change our mind and maybe our trading strategic, although gold is still going a mega uptrend, but the gold prive move up and down more actively and we will be get hurt easily if we do not pay a lot attention on the gold downtrend, it not simply a correction anymore. Before that i think that short gold is riskym but now is time to review our trading staregic.

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