Source: PaxForex Premium Analytics Portal, Technical Insight
Gold futures prices declined during Asian trading on Friday. On COMEX, a division of the New York Mercantile Exchange, gold futures for April delivery are trading at $1,822.85 per troy ounce, down 0.22% at the moment of writing.
GOLD/USD, 30 min
Pivot: 1821.00
Analysis:
Provided that the price is below 1831.00, follow these recommendations:
- Time frame: 30 min
- Recommendation: short position
- Entry point:1821.00
- Take Profit 1: 1811.00
- Take Profit 2: 1808.00
Alternative scenario:
In case of breakout of the level 1831.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1831.00
- Take Profit 1: 1838.00
- Take Profit 2: 1847.00
Comment:
RSI shows a downtrend within a day.
Key levels:
| Resistance | Support |
| 1847.00 | 1818.00 |
| 1838.00 | 1808.00 |
| 1831.00 | 1784.00 |
GOLD/USD, D1
Pivot: 1837.00
Analysis:
Provided that the price is below 1870.00, follow these recommendations:
- Time frame: D1
- Recommendation: short position
- Entry point: 1837.00
- Take Profit 1: 1765.00
- Take Profit 2: 1710.00
Alternative scenario:
In case of breakout of the level 1870.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1870.00
- 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 | 1765.00 |
| 1920.00 | 1710.00 |
| 1870.00 | 1670.00 |
