Technical analysis of Gold for January 14, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold had hit $1,244.00 levels during early hours today before pulling back lower. Please note that the metal has hit minimum expected targets as depicted here (red lines). A pullback lower is expected towards $1,205.00/10.00 levels, before the rally resumes. It is recommended to remain flat and loon to buy around $1,210.00 levels, risk remains at $1,170.00 for now. Immediate support is seen at $1,210.00/05.00 levels, followed by $1,170.00, $1,143.00 and lower while resistance is seen at $1,255.00 and higher respectively. Bulls should remain in control till prices remain above $1,170.00 for now.

Trading recommendations:

Buy around $1,210.00/05.00, stop below $1,170.00, the target is open.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



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