InstaForex - Analytics

    InstaForex

    701.25 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Gold for April 08, 2015


    Show full picture

    Technical outlook and chart setups:

    Gold dropped lower towards the level of $1,207.00 yesterday. Now, it is seen to be preparing to resume its rally. It is recommended to book profits on short positions taken earlier and initiate long positions at the current price, with risk around $1,170.00. The upside potentials remain up to at least $1,250/60.00. Immediate support is seen at $1,195.00 followed by $1,178.00 and lower, while resistance is seen at $1,223.00 followed by $1,240.00/50.00 and higher respectively. Bulls should be poised to retain control untill prices remain above the level of $1,278.00.

    Trading recommendations:

    Book profits in short positions, initiate long positions, stop at $1,17000 target open.

    Good luck!


    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree