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Technical Analysis
TECHNICAL ANALYSIS BY NSFX 09.03.2016
HIGH: | LOW:
Gold breaking out of a consolidation area to test the 1280 dollar resistance level last week. A restest of this level seems likely with a break above possibly leading to bullish traders eyeing the 1300 level. A rejection at the 1280 level could once again see bearish sentiment resume and further downwards action. Support near[...]
TECHNICAL ANALYSIS BY NSFX 09.03.2016
HIGH: | LOW:
Support level at 1.3260 reached Monday halting the downward trend for now. A break below the 1.31 figure and the 1.3060 levels needed to break out of the bullish trend channel. bearish confirmation could then target the 1.2830 area. Should the support hold however, we could see USD strength taking us back up towards 1.34[...]
TECHNICAL ANALYSIS BY NSFX 09.03.2016
HIGH: | LOW:
Breaking the supporting trend-line at the 112.80 level with resistance towards the 114.50 area. Break below could once again see the 111 figure level support tested twice last month once again come into play. 112.15/20 could offer interim support.