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Xau/Usd : 02/03/2015 Technical Analysis Report

2nd March 2015 CFX Admin

Our Preference: Buy positions Above 1207 with target of 1218 & 1226 in extension.
Alternative Scenario: Nill
 
Technical Commentary: In Monthly chart we got good lower support trend line and its bounced back from lower trend line and last month closed on higher side.
In Weekly chart and Daily chart Gold was tested lower trend line and its bounced back from the lower trend line and closed above the lower trend line and its trading in the triangle pattern so we got a good support levels.
In 4 hours chart,Gold was trading in Equidistance channel lines and its tested upper trend line so we can except some correction upto long term lower trend line and its trading in triangle pattern so we can buy near lower trend line @ 1207 level. :- we have shown in above image.
In 1 hour chart,Gold was trading in Equidistance channel lines and we can buy near intraday key support level line :- we have shown in above image.


In Weekly chart and Daily chart Gold was tested lower trend line and its bounced back from the lower trend line and closed above the lower trend line and its trading in the triangle pattern so we got a good support levels.



Technical Commentary: In Monthly chart we got good lower support trend line and its bounced back from lower trend line and last month closed on higher side.



In 1 hour chart,Gold was trading in Equidistance channel lines and we can buy near intraday key support level line :- we have shown in above image.



In 4 hours chart,Gold was trading in Equidistance channel lines and its tested upper trend line so we can except some correction upto long term lower trend line and its trading in triangle pattern so we can buy near lower trend line @ 1207 level. :- we have shown in above image.



In 4 hours chart,Gold was trading in Equidistance channel lines and its tested upper trend line so we can except some correction upto long term lower trend line and its trading in triangle pattern so we can buy near lower trend line @ 1207 level. :- we have shown in above image.



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