Monday, April 4, 2016

Gold Today

Gold is trading to the downside in today's trading session after the bulls suffered a devastating loss with the announcement of the latest NFP data on Friday. With a thriving US economy, Gold was sold out and reached $1,208 before slightly recovering and going to $1,221 closing price on Friday.

Currently, Gold lost some $6 and is trading at $1,215. Main trend remains bearish for the short-term, first bear target $1,200, major bear target $1,188. First resistance $1,228, major resistance $1,250.

No major news are expected today so price might get range bound between $1,218 and $1,208.

Chart: XAU/USD H4

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7 comments:

  1. UnknownApril 4, 2016 at 3:40 PM

    Well spotted, thank you for sharing.

    ReplyDelete
  2. UnknownApril 4, 2016 at 6:56 PM

    Gold will probably continue falling, especially if it breaks below $1200.

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  3. UnknownApril 4, 2016 at 8:25 PM

    Very helpful analysis.

    ReplyDelete
  4. UnknownApril 4, 2016 at 10:41 PM

    I think so that the main trend remains bearish for the short-term

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  5. UnknownApril 4, 2016 at 10:46 PM

    Still far from a relevant support.

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  6. UnknownApril 5, 2016 at 12:46 AM

    Gold remains on its negative tone, but bearish strength seems limited.

    ReplyDelete
  7. UnknownApril 5, 2016 at 11:22 AM

    Very helpful aanalysis.

    ReplyDelete

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