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TECHNICAL ANALYSIS BY NSFX 08.03.2016
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Support level at 1.3260 reached yesterday halting the downward trend for now. A break below the 1.31 figure and the 1.3060 levels needed to break out of the bullish trend channel. bearish confirmation could then target the 1.2830 area. Should the support hold however, we could see USD strength taking us back up towards 1.34[...]
TECHNICAL ANALYSIS BY NSFX 08.03.2016
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Gold breaking out of a consolidation area to test the 1280 dollar resistance level last week. A restest of this level seems likely with a break above possibly leading to bullish traders eyeing the 1300 level. A rejection at the 1280 level could once again see bearish sentiment resume and further downwards action. Support near[...]
TECHNICAL ANALYSIS BY NSFX 06.03.2016
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The index rose above its 55EMA and made a breakout as well of its short term supply line. It may test the 50% and 61.8% Fibonacci retracement of the bearish wave that was generated last December that ended at the beginning of Febrauary. Above those 2 static resistances, in area 10,065 and 10,385 respectively, the[...]