Gold spot Binary Technical April 29th 2012

Gold spot is picking up momentum the past few days. 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: 1618.280 to 1690.700.
  • Further levels in both directions: Below, for PUT Options: 1654.546, 1648.610, 1640.150, 1630.630 and 1618’280which is further away
  • Above, for CALL options: 1667.530, 1676.930, 1682.510 and 1690.700
  • Very important support, at 1682.510, still a few steps to get there.
  • Very important resistance is at 1630.630, still further away.
  • Chart is on a 4 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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