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    Technical analysis of Gold for May 22, 2015

    The real panic will be triggered below $1,199.00 at the intraday session. Buying momentum is seen above $1,211.00. Within the intraday session, the metal can stretch max to $1,215.00 and $1,218.00 in the extreme case. Whereas, 20Wsma is found at $1,213.00, bulls will try to close above this level. In case the metal closes above $1,213.50 on Monday, opening may be seen around $1,217.00. On the downside, in case the metal closes below $1,195.00, bears can aim at $1,185.00,$1,178.00, $1,173.00, and $1,166.00. We have been repeatedly advising $1,165.00 as the key level for further down fall towards new lows. In the hourly chart, positive divergence has been developing.

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    To contact the author of this analysis, please email- joseph.wind@analytics.instaforex.com


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