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Leonid graduated from Donetsk National Technical University, specialization "Automation and process control". He came to the market five years ago. As a basis of trade he uses indicator «Murray levels» , also prefers the classical technical analysis.

GOLD: Corridor is in the fuzzy boundaries

Leonid Varfolomeev

Frequent intersection of  STD1 with STH4 signals the flat which is bounded by 5/8 (1265.63) and 2/8 (1218.75) levels. It should be noted that the price has been fixed above the level 3/8 again, whereas STD1 has changed its color. Therefore, the growth scenario to the area of level 5/8 is possible. However, the breakdown STH4 (1241.00) will lead to testing of 2/8 level which defines lower bound of the flat. At the moment, the key marks are 1241.00 (STH4) and 1250.00 (level 4/8), therefore the trade should be conducted in both directions upon the breakdown of the corresponding mark.

Trading recommendations:

1. Buy – 1252.00; sl – 1240.00; tp – 1265.00.

2. Sell – 1238.50; sl – 1245.00; tp – 1222.00. 

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