GOLD Weekly Technical Analysis (6-10 April, 2015) | April 4, 2015

Gold had pulled back from support level at 1178 level. From this level gold start bullish movement again. Now it is ranging between 1194-1209 area. After breakout this ranging zone, we can take entry at the breakout direction. This pair has bullish momentum now. So we can prefer to breakout on the upside. If break on upward, then we can see bullish continuation and target will be 1220 area. This level will act as resistance area. If gold can break 1220 area, then bullish rally will be more strong and we can see rapid bullish rally on it.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1226

Resistance One (R1): 1214

Pivot Point: 1196

Support One (S1): 1184

Support Two (S2): 1166