Gold spot Binary Technical October 11th 2011

Due to the recent changes in Gold prices, we decided to post a technical analysis for gold binary traders for today 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. October 2011 brings a change to gold prices, with a strong resistance line that awaits at 1632.110.

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

  • Current range: 1632.110 to 1682.990.
  • Further levels in both directions: Below, for PUT Options: 1656.360, 1650.230, 1643.660 and 1632.110.
  • Above, for  CALL options: 1666.440, 1673.620, 1680.250 and 1682.990
  • Very important support and close enough, at 1673.620.
  • Very important resistance is at 1632.110.

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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