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GOLD Intraday Analysis 16 March 2015

It is currently 09:00 GMT and GOLD is testing 1158 support. Today i expect a movement between 1165 – 1154 band. There should not be any aggressive strike in both ways for today but do not forget to use stop loss in your trades. Below is the revision of 1Hr chart for today. We seem to be still in an extended symmetrical triangle according to 1Hrs chart. For me, to be in up trend, we have to get over 1175.23, to continue in down trend we got to get below 1147. Long term trading band is this also.  If it gets below 1154 for a while, it will try to test 1151, 1149, 1147 in order. Alternative scenario; if it gets over 1165, it will test 1169, 1171. According to the price actions today, i will try to get the right direction for this week.

GOLDH1_20150316_2

 

 

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