InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    62% of positive reviews
    Real

    Gold technical analysis for March 2, 2016 2016-03-02

    Gold price remains inside the triangle pattern and is now testing the lower boundary of the triangle. This is the time for short-term traders to go long with stops at $1,210. A target is the upper triangle boundary at least, if not $1,300 after a breakout.

    analytics56d6975e15080.jpg

    Show full picture

    Gold price is testing the lower triangle boundary and the Kumo (cloud) support. This triangle pattern is expected to break to the upside and give a final upward move towards $1,300-$1,350. If this triangle breaks downwards we should look to see how price reacts at $1,210-$1,200 support area. If this area is broken, we should expect price to move towards $1,150 at least.

    analytics56d697b2541bd.jpg

    Show full picture

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree