GOLD is Congesting Between D L3 and D H3 Camarilla Pivot

February 9, 2018

By Admiral Markets

Source: Admiral Markets MT5

The Gold is congesting between D L3 and D H3 – classic daily support and resistance levels. If the price breaks and closes above 1317.29 we might see 1322 and 1327. A cluster of resistance levels waits above 1330, and the price would need a strong momentum to reach the final daily target D H5 – 1333.96. Momentum and price close below 1314.51 could aim for 1307.84 and 1303.39. Today is Friday, and we can expect profit taking so watch out for the indicated breakouts.

W H3 -1.2055 should give another upside boost to the pair.

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W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

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Gold Instrument

Article by Admiral Markets

Source: GOLD is Congesting Between D L3 and D H3 Camarilla Pivot

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