GOLD: XAUUSD 1,323.94 / 1,324.5

Set 30

TECHNICAL ANALYSIS BY NSFX 30.09.2016

By:admin

High: 1,325.12 Low: 1,319.28

The commodity is making lower highs but it is still trading above its 200SMA.  Beneath the 38.2% Fibonacci retracement the commodity could test the 200SMA, in area 1,290.  The static 61.8% Fibonacci level is at 1,265. A breakout of the medium term demand line can lift the shiny metal to 1,378 and then to 1,400.

R3 1,400
R2 1,378
R1 1,345
S1 1,310
S2 1,290
S3 1,265