GCMAsia - GOLD
GOLD_
2017-05-19
| Resistance and Support | Level | Explanation |
| Resistance | 1254.75 | H4 |
| Support | 1245.15 | H4 |
GOLD_, H4: Gold price was traded lower following prior retracement from the 61.8 Fibonacci level of 1264.35. However, as both moving average line continues to expand upward after the formation of golden cross, a rebound from the 20-moving average line (red) would suggest gold price to advance further up, towards the target of resistance level at 1254.75.
Resistance level: 1254.75, 1264.35
Support level: 1245.15, 1233.30