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    Technical analysis of Gold for April 30, 2015

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    Technical outlook and chart setups:

    Gold is retracing lower as it was discussed and expected earlier. The metal is trading around $1,202.00 at the moment and support is expected around $1,190.00. Please note that $1,190.00 is the fibonacci 0.618 support for the rally between $1,175.00 and $1,215.00. Immediate support is seen at the level of $1,200.00 followed by $1,190.00, $1,175.00, $1,162.00and and lower. Resistance is seen at $1,235.00 followed by $1,280.00/85.00 and higher respectively. Bulls should resume rally from around the level of $1,190.00 for now.

    Trading recommendations:

    Flat for now. Looking to buy lower

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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