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27.03.201509:43 Forex Analysis & Reviews: Technical analysis of Gold for March 27, 2015

Long-term review

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Technical outlook and chart setups:

Gold hgot above the level of $1,220.00 yesterday before pulling back again. The metal still can be pushed through the level of $1,225.00 before a meaningful retracement. It is recommended to remain flat for now and wait for a pullback to materialize before initiating long positions. Immediate support is at $1,185.00 followed by $1,160.00/62.00 and lower, while resistance is seen at $1,223.00 followed by $1,285.00 and higher respectively. Bulls might still want to remain in control but further strengthening in the rally should be seen after a pullback towards $1,172.00.

Trading recommendations:

Remain flat for now.

Good luck!

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