Gold spot Binary Technical November 21st 2011


Gold spot is still showing signals of heading down, especially when focusing on the past few days, and the rise in the U.S. market. Here is our technical analysis on Gold binary option for the next few hours and might be even relevant for tomorrow morning.

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

  • Current range: 1603.620 to 1795.510.
  • Further levels in both directions: Below, for PUT Options: 1696.540, 1655.560, 1643.310, 1622.860  and 1603.620.
  • Above, for  CALL options: 1737.430, 1755.970, 1782.600 and 1795.510
  • Very important support, at 1755.970, might take some time to get there.
  • Very important resistance is at 1655.560, 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.

More on Gold Binary Options, read our weekly gold binary options setup.

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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