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    Gold : analysis for March 25, 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 $1,196.03 in an average volume. According to the 4H timeframe, the price broke the lower channel. That is a sign of bullish strength. Gold changed its trend's dynamic from bearish to bullish. So, be careful when selling. Our submajor Fibonacci retracement 61.% at the price of $1,191.00 is broken. Our next resistance level is seen around the price of $1,205.00 (major Fibonacci retracement 38.2%). Watch for potential buying opportunities on the dips.

    Daily Fibonacci pivot points:

    Resistance levels :

    R1: 1,193.94

    R2: 1,196.26

    R3: 1,200.17

    Support levels :

    S1: 1,186.46

    S2: 1,184.14

    S3: 1,184.40

    Trading recommendations: Watch for potential buying 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
    InstaForex Group © 2007-2015

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