International gold next target is located in 1000
Dollar gold price behavior is closely related to the decline in value. But the upward trend in gold prices and the dollar's trajectory different. The upward trend in price by a band that is dealing with the decision, the deal with the New York Mercantile Exchange gold weekly chart can be clearly seen.
Price of gold shows a consistent trend of behavior. This trend can be adopted at the weekly chart are two ways to determine. The first method is to care than the composite moving average, which shows that investors buy and strong support on the rise. Care than the composite moving average long-term group increased from August 2005 to accelerate the trend has been to maintain the full separation of the state. The strength of this trend than the compound by the consultants moving average to determine the behavior of short-term group. Gold price short-term group care retracement has not reached the short-term moving average than the composite group fell below long-term group situation. This indicates a very strong underlying trend support.
This trend while the trend line determined by the other three. A trend line is a long-term trend. Trend line trend line B and C determine the trend around the trend line A minus area. Three major support level is rising by the trend of consolidation in the process of regional decision. Support level at 690 U.S. dollars, 780 dollars and 840 U.S. dollars Office. Strong trend in this market, which is used as a guide to support level. Gu composite moving average than the lower edge of a long-term group is a more useful measure of trends in strength and potential rally point method.
Psychological factors influence the price of gold by the great graphics in the development of this morphology will be reflected. Gold prices are likely to form a small head and shoulders patterns. The formation of this decision in 970 U.S. dollars to 980 U.S. dollars toward the trend line C of the rally office, then the following retracement to 860 U.S. dollars. This may form a head and shoulders patterns, its position below the projected goal of long-term support level at around 660 U.S. dollars Office.
Likely outcome is an upward trend will continue, during which the price trend line C, near the up and down repeatedly. This gives one thousand U.S. dollars of the price target value. Prices continued strong upward trend and the trend line trend line A and the price of transactions between C-band operation is very high. Around 940 U.S. dollars in a small resistance and support levels are formed, which will run to 1000 U.S. dollars over the price will be very important. The trend line support level will be the value B also runs to the formation of above 940 U.S. dollars.
The strong trend has its own characteristics, traders must understand this behavior. This trend has been the impact of a weaker dollar, but this is not the most important feature of this trend. In the next period, the gold price target bit in between 1000.00 U.S. dollars to 1150.00 U.S. dollars.
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