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    Gold : analysis for April 06, 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 $1,223.21 in a high volume. According to the daily time frame, we can observe weak demand in a volume below average. According to the lower time frames, we can observe buying climax (hidden selling) around the level of $1,221,00. So, be careful when buying gold at this stage. Our Fibonacci expansion 100% at $1,225.00 is almost tested. We got buying climax (hidden selling) according to the lower time frames, so buying gold at this stage looks risky. Support level is around $1,208.00.

    Daily Fibonacci pivot points:

    Resistance levels :

    R1: 1,218. 05

    R2: 1,218.95

    R3: 1,220.33

    Support levels :

    S1: 1,215.15

    S2: 1,214.25

    S3: 1,212.80.

    Trading recommendations: Be careful when buying gold at this stage since our Fibonacci expansion 100% is almost tested.

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

    Uitgevoerd door, Analytische expert
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