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    Gold analysis for March 26, 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 $1,219.51 in an ultra high volume. According to the 4H time frame, we can observe demand in an ultra high volume (buying climax) which is a sign that buying looks risky. The price rejected from our major Fibonacci retracement 38.2% ($1,205.00). If the price breaks the level of %1,220.00, we may see potential testing of the level of $1,244.00. Support level is around the price of $1,200.00.

    Daily Fibonacci pivot points:

    Resistance levels :

    R1: 1,199.94

    R2: 1,202.29

    R3: 1,207.33

    Support levels :

    S1: 1,189.09

    S2: 1,185.97

    S3: 1,180.93

    Trading recommendations: Be careful when buying gold at this stage since the price rejected from our Fibonacci retracement 38.2%


    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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