RSS
Tools
Oct 21
XAU/USD (Gold) Analysis - June 6, 2011: Testing Level 1559.20, Potential For Correction
Monday, 06 June 2011 05:10

Yesterday: Open 1533.40 High 1545.90 Low 1523.80 Close 1540.40

Towards the beginning of the session yesterday America, Golden had several times to move the first support level of 1527.20 before being bullish to the highest level at 1545.90 daily. Overall daily high low range reach the range of 2200 pips.

Currently, the movement of gold still looks bullish, but cautious correction.

There is no focus on economic data today for XAU / USD.

20110606_xau

If still experiencing continued increases then the price will open up opportunities to a level of 1559.20.

We recommend that if the price decline continues then the opportunity to as low as 1531.10.

Prices shown on the graph H1 line MA05 and MA10 in bullish conditions.

While the Stochastic indicator indicates there is still bullish for not falling / through the diagonal trend line in the Stochastic indicator.