GCMAsia - GOLD
GOLD_
2017-04-11
| Resistance and Support | Level | Explanation |
| Resistance | 1261.20 | H4 |
| Support | 1248.50 | H4 |
GOLD_, H4: Gold price was traded higher following prior rebound from the support level of 1248.50 while currently testing in between both moving average line. However, as the MACD indicator continues to drift outside of upward momentum, gold price is expected to experience brief retracement period and oscillate in between the range of 1248.50 and 1261.20 for short-term. Otherwise, a closure above the resistance level of 1261.20 would suggest gold price to extend its upward momentum in long-term.
Resistance level: 1261.20, 1271.00
Support level: 1248.50, 1239.70