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    Gold : analysis for April 08, 2015


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    Overview :

    Since our last analysis, gold has been trading downwards. As we had expected, the price tested the level of $1,197.32 in a high volume. According to the daily time frame, we can observe a supply in a volume above the average. Our support level at $1,207.00 got broken, so be careful when buying gold. Major Fibonacci retracement 38.2% (support) is around $1,194.00. Fibonacci retramcent 61.8% (support) is around $1,174.00. The short-term trend is bearish.

    Daily Fibonacci pivot points:

    Resistance levels :

    R1: 1,214.54

    R2: 1,216.52

    R3: 1,219.47

    Support levels :

    S1: 1,208.12

    S2: 1,206.15

    S3: 1,202.93

    Trading recommendations: Be careful when buying gold at this stage since we got support broken. Sell after retracmeents.

    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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