Technical analysis of Gold for July 16, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is trading around $1,146.00 at the moment. It remains just shy of earlier swing lows around $1,143.00. Please note that a bullish bounce here could still resume its uptrend but a break below would be extremely bearish opening doors towards $1,030.00/50.00 before the overall uptrend could resume. It is recommended to remain long for now, with risk at $1,143.00. Immediate support is seen at $1,143.00 while resistance is seen at $1,167.00/68.00 respectively.

Trading recommendations:

Remain long for now with risk at $1,143.00, a target is open.

Good luck!

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