GOLD Weekly Technical Analysis (25-29 May,2015) | May 24, 2015

Gold is falling from the resistance area. So it has got back some bearish power. But it is near to support level at 1200. It can be good support area for gold. We can find pull back from that area. If we can get bullish candle or rejection candle from 1200 area, then we can go for buy and target will be 1220 area. Below 1200 area, we can expect more down on gold. So we need to look at 1200 area for finding good setup for taking entry.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1244

Resistance One (R1): 1225

Pivot Point: 1213

Support One (S1): 1194

Support Two (S2): 1182