22.04.201507:50 Forex Analysis & Reviews: Technical analysis of Gold for April 22, 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 is seen to be trading around $1,200.00 now and it is expected to resume its rally towards higher highs soon. The metal trades within the cone formation at the moment and a push above $1,210.00 would be extremely encouraging for bulls. It is recommended to remain long with stop at $1,170.00 . Immediate support is seen at $1,180.00/83.00 followed by $1,162.00, $1,143.00, and higher, while resistance is seen at $1,240.00 followed by $1,280.00 and higher respectively. A drop below $1,183.00 could delay matters further.

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.