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: Incomplete correction

Leonid Varfolomeev

The pair did not go higher than 7/8 (1296.88) and bounced down from it. The disruption STH4 and 6/8 (1281.25) level has not led to a logical fall to the area of the merge between STD1 and 5/8 (1265.63) level. Moreover, the price is trying to settle above 6/8, which calls in question the plans of the bears. The situation with further prediction is quite ambiguous. However, a possible falling to STD1 should be considered as a buying opportunity with short-term goals.

Trade Recommendation:

Buy – 1265.60; sl – 1256.00; tp – 1281.00.

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