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    Gold analysis for March 02, 2015

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    Overview :

    Since our last analysis, gold has been trading upwards. As we expected,the price has tested the level of $1,223.05. We can observe demand in a high volume on the market. According to a H1 time frame, we have good rejection from the level of $1,212.00, which is a sign that selling gold at this stage looks risky. My advice is to watch for potential buying opportunities. We have a resistance level around the price of $1,235.00 (Fibonacci retracement 38.2%). According to a daily time frame, we have demand in a volume above average.

    Daily Fibonacci pivot points:

    Resistance levels :

    R1: 1,214.90

    R2: 1,215.56

    R3: 1,216.63

    Support levels :

    S1: 1,212.76

    S2: 1,212.10

    S3: 1,211.03

    Trading recommendations: Watch for potential buying opportunities after a retracement (buy on the dips).


    Petar Jacimovic neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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