InstaForex - Analytics


    699.25 6.25/10
    61% of positive reviews

    Technical analysis of Gold for February 10, 2015

    Show full picture

    Technical outlook and chart setups:

    Gold is seen to be retracing lower towards the levels of $1,235.00 for now. The metal may be supported at the current levels and then continue higher above $1,245.00 again. On the flip side, a drop below $1,228.00 could find support at $1,221.00, which is also 60% of the rally between $1,170.00 to $1,307.00. It is recommended to remain long for now and also look to add further on dips with risk below the levels of $1,170.00. Immediate support is seen at $1,220.00 (interim) followed by $1,205, $1,170.00 and lower, while resistance is seen at $1,285.00 (interim) followed by $1,307.00, $1,340.00 levels and higher, respectively. Bulls would remain in control untill the prices stay above $1,170.00.

    Trading recommendations:

    Remain long, stop at $1,170, target is open.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree