Gold analysis for February 23, 2015
February 23, 2015 12:30 pmVideo
Latest News
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
- Trading plan for GBP/USD on April 19. Simple tips for beginners April 19, 2024
- Trading plan for EUR/USD on April 19. Simple tips for beginners April 19, 2024
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
Overview :
Since our last analysis gold has been trading downwards. The price has tested the level of 1,190.63 in an ultra high volume (selling climax). According to the 30M time frame, we can observe supply in an ultra high volume (selling climax) in the background, which is a sign that selling gold at this stage looks risky. We are still waiting for larger activity on the market. According to the monthly time frame, we have critical support at the price of 1,130.00 (Fibonacci expansion 161.8%). My advice is to watch for potential buying opportunities on the lows (buy on the dips). Any larger demand in an ultra high volume may confirm further bullish movemement.
Daily Fibonacci pivot points:
Resistance levels :
R1: 1,203.13
R2: 1,203.77
R3: 1,204.80
Support levels :
S1: 1,201.07
S2: 1,200.43
S3: 1,199.40
Trading recommendations: Watch for potential buying opportunities after retracement (buy on the dips).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: