GOLD Weekly Technical Analysis (18-22 May,2015) | May 16, 2015

Gold was flying up last week. We saw big bullish movement on gold. Now it is facing important resistance level. If it can break this resistance, then we can get more bullish movement on this pair. So we can wait for breakout of resistance level 1223-1227 area. Above this area, we can start buy on gold. But if the gold made any bearish candle on that level then we can go for sell on gold.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1258

Resistance One (R1): 1241

Pivot Point: 1209

Support One (S1): 1192

Support Two (S2): 1160