empty
 
 
28.03.2014 03:18 PM
GOLD analysis for March 28, 2014

This image is no longer relevant

Overview:

Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,288.90 on average volume. Our previous analysis is still active and we got good progress. According to the daily chart, we can observe supply bar on on average volume, which is a good sign for the further downward movement. Gold is in progress of bearish corrective phase and I've placed Fibonacci Retracement to find the first down station. I got major Fibonacci Retracement 38.2% at the price of 1,312.00 (already met) and Fibonacci Retracement 61.8% at the price of 1,263.00. We can also observe previous swing high zone at the price of 1,279.00, which may be a good support zone for Gold. Next down stations on short-term prospective are the levels of 1,279.00-1,263.00. Be careful with short-term buying and watch for selling opportunities after retracements. According to the H4 timeframe, we got supply bars on volume above the average so buying at this stage looks very risky.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,303.73

R2: 1,307.91

R3: 1,314.67

Support levels:

S1: 1,290.21

S2: 1,286.03

S3: 1,279.27

Trading recommendation: Trading the metal, be careful with buying at this stage since Gold is in progress of bearish corrective phase. Watch for selling opportunities after retracement.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback