empty
 
 
27.04.2015 08:28 AM
Technical analysis of Gold for April 27, 2015

This image is no longer relevant

Technical outlook and chart setups:

Gold dropped lower to $1,175.00 on Friday before pulling back higher. The metal is seen to be trading around $1,182.00/83.00 for now. The hourly chart view has been depicted here, indicating interim support at $1,175.00 and lower, while resistance is seen at $1,198.00 followed by $1,204.00/08.00 and higher up respectively. If the metal drops below $1,175.00, it should test the levels of $1,171.00/73.00 at least, which is fibonacci 0.618 support of the rally between $1,140.00 and $1,224.00 respectively. A drop below $1,170.00 could prove to be extremely bearish though.

Trading recommendations:

Remain long, stop at $1,170.00, a target is open.

Good luck!


Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $3000 more!
    In September we raffle $3000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback