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    Gold : analysis for April 07, 2015

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    Overview :

    Since our last analysis, gold has been trading downwards. As we expected, the price has tested the level of $1,207.32 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 selling climax (hidden this stage). Our Fibonacci expansion 100% at $1,225.00 got tested. The pirce is testing support at $1,207.00. If the price breaks the level of $1,207.00 in a high volume, we may expect it to test the level of $1,194.00.

    Daily Fibonacci pivot points:

    Resistance levels :

    R1: 1,223.12

    R2: 1,225.92

    R3: 1,230.47

    Support levels :

    S1: 1,214.02

    S2: 1,211.22

    S3: 1,206.67

    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 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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