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18.03.2015 06:00 PM
Gold analysis for March 18, 2015

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Overview :

Since our last analysis, gold has been trading downwards. As we expected, the price has tested the level of $1,146.85 in an ultra volume. Our support at the price of $1,142.00 was successfully tested. According to the 30-minute time frame, we have an ultra high buying climax, so be careful when buying gold. My advice is to watch for potential selling opportunities after a retracement. If the price breaks the level of $1,142.00 in a high volume, we may see a potential testing of the level of $1,138.00 (Fibonacci expansion 100%).

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,156.46

R2: 1,160.64

R3: 1,167.40

Support levels :

S1: 1,142.94

S2: 1,138.62

S3: 1,132.27

Trading recommendations: Watch for potential selling opportunities after a retracement.


Summary
Urgency
Analytic
Petar Jacimovic
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