For Traders

Analytical Reviews

Technical analysis

27.02.201508:04 Forex Analysis & Reviews: Technical analysis of Gold for February 27, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.