[B]Xau/Usd : 26/03/2015 Technical Analysis Report From Centreforex
Our Preference: Buy above 1200 level for the target 1220 & 1224 level.
Alternative Scenario: Nill .
Technical Commentary :- In weekly Chart : Gold was trading above last week high and its trading above the key resistance level and upper trend line so we can buy near intraday support levels. In Daily Chart :- Yesterday gold was closed above the last week high so its confirming for buying trend upto next resistance level 1220 $ :- we have shown in above image.
In 4 hour chart :- Gold was trading in the equidistant line and its trading near lower channel line, so we can buy above yesterday high 1198 level and for the target upto 1220 & 1224 level of next resistance:- we have shown in above image.
In 1 hour chart :- Gold was trading in the equidistant channel lines with yesterday high and intraday resistance of 1200 levels, If it breaks 1200 level means it will move higher upto next resistance level so we can buy above 1200 level :- we have shown in above image.