go-1024x396GOLD spot market on the H4 chart moved once again near the key support horizontal level, which coincides with one of the previous highs. There is high probability, that local consolidation will form above the support. Currently we have a pin bar candle and it seems, that rate starts to retrace upward. The first target here should be below the resistance line connecting to previous highs.

GOLD_screen 04.02

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.