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    Technical analysis of Gold for March 08, 2016 2016-03-08

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    Technical outlook and chart setups:

    Gold is now trading higher around the level of $1,274.00. It is expected to turn lower until prices remain below $1,279.00 levels. However, a move above the levels of $1,279.00 would push prices towards $1,320.00. A breakout below $1,250.00 would confirm that a meaningful top is in place and a deeper correction can be expected. It is hence recommended to remain short with risk at $1.282.00/83.00. Immediate resistance is seen at $1,279.00, while support is found at $1,250.00.

    Trading recommendations:

    Remain short with stop at $1,283.00, a target is open.

    Good luck!

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