[B]Xau/Usd : 01/04/2015 Technical Analysis Report From Centreforex
Our Preference: Buy Above 1180 and 1185 Levels for the target of 1190 and 1195 levels.
Alternative Scenario: Buy above 1200 level for the target 1220 & 1224 level.
Technical Commentary :- In weekly Chart : After testing the last week low, the gold came back higher and closed on higher side ,now gold was trading above the lower trend line so we can buy above 1180 levels and we can except sideways movements upto 1195 levels :- we have shown in above image.
In Daily Chart :- Yesterday gold was closed on bullish candle like hammer so today we except buy near lower support level of 1185 and 1180 ounces:- we have shown in above image.
In 4 hour chart :- Gold was broken the equidistant channel lines on upper side and we have good support level of 1184 levels so we can buy near intraday support levels :- we have shown in above image.
In 1 hour chart :- Gold was broken the triangle pattern with near lower trend line , If lower line breaks means we can except upto 1180 levels :- we have shown in above image.