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    Gold analysis for March 20, 2015

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    Overview :

    Since our last analysis, gold has been trading upwards. The price has tested the level of $1,184.04 in a very high volume. According to the 4H timeframe, we can observe that the price broke the lower channel which is a sign of bullish strength. Gold changed its trend's dynamic from bearish to bullish, so be careful when selling. I have placed Fibonacci retracement to find potenteial resistance levels and have got Fibonacci retracement 61.8% at the price of $1,191.00. Watch for potential buying opportunities on the dips.

    Daily Fibonacci pivot points:

    Resistance levels :

    R1: 1,175.23

    R2: 1,179.57

    R3: 1,186.50

    Support levels :

    S1: 1,161.17

    S2: 1,156.83

    S3: 1,149.80

    Trading recommendations: Watch for potential selling opportunities after a retracement.


    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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