empty
 
 
27.02.2015 08:04 AM
Technical analysis of Gold for February 27, 2015
This image is no longer relevant

Technical outlook and chart setups:

Gold had raised through $1,220.00 levels as expected and discussed before pulling back again. The metal remained shy of taking out $1,225.00 resistance yesterday, but is still expected to do so today. A 4H snapshot depicted here clearly indicates that the metal has broken out of immediate trend line resistance and is now expected to rally past $1,246.00 levels in the sessions to come by. A break above the larger trend line resistance would confirm that a bottom is in place at $1,190.00 levels. It is recommended to remain long for now, risk remains at $1,170.00 levels. Immediate support is seen at $1,190.00 levels while resistance is seen at $1,225.00, followed by $1,235.00/40.00 and higher respectively.

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 $9000 more!
    In May we raffle $9000 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