Gold spot Binary Technical November 2nd 2011

Due to the recent changes in Gold prices, we decided to post a technical analysis for gold binary traders for today, October 2nd, based on the last few days. In this post we’ll give a specific outlook on gold prices, that can produce trading opportunities for binary traders today. Early November shows a beginning of rise on gold currently holding range in 1723.420 to 1736.160

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

  • Current range: 1680.890 to 1752.390.
  • Further levels in both directions: Below, for PUT Options: 1723.420, 1713.980, 1699.020 and 1680.890.
  • Above, for  CALL options: 1736.160, 1744.610, 1747.200 and 1752.390
  • Very important support and soon enough possible, at 1744.610.
  • Very important resistance is at 1680.890, but has a few steps before to pass.
  • Chart is on a 30min. 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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