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    Technical analysis of Gold for April 15, 2015

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    Technical outlook and chart setups:

    Gold is seen to be trading around $1,193.00 at the moment after printing lows around $1,183.50 yesterday. The metal bounced back sharply from the lows and regained the $1,190.00 region soon enough. It is hence recommended to hold long positions with risk below $1,170.00. Bulls seem to be poised to push higher from the current levels until prices remain above $1,178.00 at least. Immediate support is seen at $1,178.00 (interim), followed by $1,162.00, $1,140.00, and lower while resistance is seen at $1,240.00/50, followed by $1,280.00 and higher respectively.

    Trading recommendations:

    Remain long for now, stop at $1,170.00, target is open.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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