InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Gold for March 31, 2016 2016-03-31

    Gold remains inside the short-term bearish channel and as we expected from our previous analysis, the price has made a lower high around the $1,235-40 area and is pulling back down. The price remains in a corrective phase, so eventually it is expected to reach below $1,190.

    analytics56fcc61d0c18b.jpg

    Show full picture

    Gold remains below the Kumo (cloud) on the 4 hour chart and with a lower high and reversal we remain in a bearish trend. Support is at $1,208 and resistance at $1,250. A break above $1,250 could even give us a new higher high towards $1,300, but this scenario has less chances.

    analytics56fcc6833e482.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