Gold spot Binary Technical April 23rd 2012

Gold spot is mostly heading down the past 2 weeks. Here is our technical analysis on Gold binary option for the next few days, showing signals that could assist in the near future.

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Here are the support and resistance lines the could produce great binary option trading opportunities:

  • Current range: 1570.250 to 1714.940.
  • Further levels in both directions: Below, for PUT Options: 1623.257, 1612.380, 1602.090 and 1570.250 which is further away
  • Above, for CALL options: 1643.250, 1657.380, 1672.860 and 1714.940
  • Very important support, at 1672.860, still a few steps to get there.
  • Very important resistance is at 1612.380, still further away.
  • Chart is on a 8 hour scale.

Click here to enlarge the graph.

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These expected market reactions and setups are general market commentary. This is by no means any type of investment advice.

The data for these news events has been analyzed given previous releases and reactions, current market conditions and more. Significant surprises to market consensus, as given by surveys of economists, normally trigger sharp market reactions that proceed for a long period of time. When some events collide with each other, they can offset each other. So, these events aren’t in the list.

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