Source: PaxForex Premium Analytics Portal, Technical Insight
Gold futures prices fell during Asian trading on Tuesday. At COMEX, a division of the New York Mercantile Exchange, gold futures with delivery in April are trading at $1,858.70 per troy ounce, down 0.28% at the time of writing. The session minimum was a mark of $/troy ounce. Gold had found support at $1.835.60 and resistance at $1.878.90.
GOLD/USD, 30 min
Pivot: 1856.00
Analysis:
Provided that the price is above 1850.00, follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1856.00
- Take Profit 1: 1867.00
- Take Profit 2: 1875.00
Alternative scenario:
In case of breakdown of the level 1850.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1850.00
- Take Profit 1: 1841.00
- Take Profit 2: 1833.00
Comment:
RSI shows an uptrend within a day.
Key levels:
| Resistance | Support |
| 1884.00 | 1850.00 |
| 1875.00 | 1841.00 |
| 1867.00 | 1833.00 |
GOLD/USD, D1
Pivot: 1846.00
Analysis:
Provided that the price is below 1885.00, follow these recommendations:
- Time frame: D1
- Recommendation: short position
- Entry point: 11846.00
- Take Profit 1: 1815.00
- Take Profit 2: 1775.00
Alternative scenario:
In case of breakout of the level 1885.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1885.00
- Take Profit 1: 1920.00
- Take Profit 2: 1965.00
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1965.00 | 1815.00 |
| 1920.00 | 1775.00 |
| 1885.00 | 1720.00 |
