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Xau/Usd : 15/03/2016 Technical Analysis Report

15th March 2016 CFX Admin

Our Preference: Sell Below 1244 for the target 1200 levels.
Alternative Scenario: Nill
 
Technical Commentary:- In Weekly Chart :- Gold was tested the long term equidistant upper channel line and new upper trend line was formed and last week after the upper trend line its came back and closed on lower side as bearish candle and yesterday its broken the key support level so this week we can except on selling side upto next key support level of horizontal line.
In Daily Chart :- Yesterday  gold was broken the key support level of lower trend line and closed below the lower trend line and its closed as bearish candle so today we can except sell off from the intraday resistance level upto next key support levels :- which we have shown in attached image.
 In 4 Hour Chart and 1 Hour Chart :- Gold was broken the lower trend line of key support level and its was trading below the key support level and now this key support level acting as key resistaace 1244 level so we can except on selling side below 1244 upto next key support 1200 levels :- which we have shown in attached image.


In Daily Chart :- Yesterday gold was broken the key support level of lower trend line and closed below the lower trend line and its closed as bearish candle so today we can except sell off from the intraday resistance level upto next key support levels :- which we have shown in attached image.



In Daily Chart :- Yesterday gold was broken the key support level of lower trend line and closed below the lower trend line and its closed as bearish candle so today we can except sell off from the intraday resistance level upto next key support levels :- which we have shown in attached image.



In 4 Hour Chart and 1 Hour Chart :- Gold was broken the lower trend line of key support level and its was trading below the key support level and now this key support level acting as key resistaace 1244 level so we can except on selling side below 1244 upto next key support 1200 levels :- which we have shown in attached image.



In 4 Hour Chart and 1 Hour Chart :- Gold was broken the lower trend line of key support level and its was trading below the key support level and now this key support level acting as key resistaace 1244 level so we can except on selling side below 1244 upto next key support 1200 levels :- which we have shown in attached image.



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