Gold spot Binary Technical October 4-6 2011

Due to the recent recovery in Gold prices, we decided to post a 3 day technical analysis for gold binary traders. In this post we’ll give a specific 3 day outlook on gold prices, that can produce trading opportunities for binary traders. October 2011 brings a change to gold prices, with a strong support line awaits at 1732.100.

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

  • Current range: 1540.000 to 1816.470.
  • Further levels in both directions: Below, for PUT Options: 1632.200, 1606.030, 1582.390 and 1532.590.
  • Above, for CALL options: 1676.930, 1732.100, 1757.030 and 1816.470
  • Very important support and close enough, at 1676.930.
  • Very important resistance is at 1532.590.

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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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