Monday, March 16, 2015

SUPPORT TRENDLINE IN XAUUSD (GOLD) 16/03/15


• 1154.4: the rising trend line from Friday’s low.
• 1151.4: Friday’s low, which is very close to the rising trend line from Wednesday’s trend low.
• 1146.1/1147.3: a support area built of 4 daily lows seen in November, all within 12 pips. Wednesday’s 3-month low was only 4 pips above the top of this support area. The bottom of this area is now very close to the bottom of the daily channel we have been watching recently (which can be seen on the attached chart).
• 1140.5: Nov 5th daily close.
• 1137.7: Nov 4th daily low.
• 1130.0: Nov 6th 4-year low.
• 1123.1: a weekly low from Apr 2010.

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