Gold analysis for August 25 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading sideways around the price of $1,150.00. According to the daily time frame, we can observe a strong supply bar in a high volume. I placed diagonal trendline and the price stoped extacly on it. Our Fibonacci retracement 50% at the price of $1,155.00 held successfully. So far, we can observe strong support around the price of $1,145.00. Be careful when buying since we have signs of weakness in the background. Watch for potential breakout of the support and try to sell after retracement.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,165.00

R2: 1,171.55

R3: 1,180.00

Support levels:

S1: 1,146.00

S2: 1,140.00

S3: 1,131.75

Trading recommendations: The strong sign of the weakness is in the background. Watch only for selling opportunites if the price breaks the support.

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

For detail explanation and best discovery on daily market trends and news you may visit via Gold analysis for August 25 , 2015 . Thanks for your support.