GOLD Weekly Technical Analysis (13-17 April, 2015) | April 12, 2015

Gold has rejected from its near term support at 1192. This level can be vital for gold. If it can hold this support level then we can see bullish movement on gold. Now it is facing little resistance at 1210 area. If it can break this then it may continue its bullish momentum upto 1220-1223 area. This area will be good resistance for gold. So we can go for sell from that resistance level if any rejection occurs on that area. For sell, we can target 1192 level.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1239

Resistance One (R1): 1223

Pivot Point: 1207

Support One (S1): 1191

Support Two (S2): 1175