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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 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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