02.07.201508:08 Forex Analysis & Reviews: Technical analysis of Gold for July 02, 2015

Long-term review

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Technical outlook and chart setups:

Gold is testing recent lows of $1,165.00/66.00 at the moment. Please note that a break below $1,165.00 would warrant a test of $1,160 and subsequently $1,143.00 threatening the bullish scenario here. It is recommended to remain long with risk at $1,150.00 but restrain yourself from taking fresh long positions now. Immediate support is seen at $1,165.00 (interim) followed by $1,160.00, $1,143.00, and lower while resistance is seen at $1,180.00 followed by $1,205.00 and higher respectively.

Trading recommendations:

Remain long with stop is at $1,150.00, a target is open.

Good luck!

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