Technical analysis of gold for March 31, 2016

Early in the morning yesterday it seemed that the chances of gold storm 1246 and its taking quite large. However, forces buyers only lasted for a second test 1243 after the asset has undergone a sale and fell in the area of support 1226.

Given that all this occurred against the background of sales of the dollar, we think this development signals in favor of internal weaknesses of the gold itself. So, the risks shift to the downside of the asset.

However, a clear technical signals for gold sales yet. To do this you must first go 1226. Given the overall technical picture is neutral, it is necessary to work from the levels without explicit preferences. Sales look good in the area 1246 and buy music from 1214 and 1226.

Average (signal – downward movement): slow (44) and fast (8) are reduced.

MACD (signal – to-flat): the indicator is near 0, the histogram and the signal line is close to 0.

ADX (signal – to-flat): the DM line is often crossed, ADX at the bottom.

RSI (signal neutral): ranges in neutral zone.

Resistance levels: 1247; 1260. Support levels: 1226; 1214.

Technical analysis of gold for March 31, 2016 31.03.2016

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