InstaForex - Analytics

InstaForex

696.00 6.50/10
61% of positive reviews
Real

Gold technical analysis for March 5, 2015

Gold price looks weak but holds above the support area of $1,200-$1,190. I could see gold price bouncing towards $1,235 or even $1,250, but as a counter-trend move. The longer-term trend is bearish and it is likely to wait for an opportunity to sell.
goldh4.jpg

Show full picture
Gold price is below the Ichimoku cloud again. However, the price still remains above the February lows. The first bounce, I believe, was too shallow to be completed. So, I will be expecting another bounce higher towards the 38% retracement before opening a short position again.
goldd.jpg

Show full picture
The weekly chart remains bearish as the price stays below the kijun-sen (yellow line) indicator. If we break above that level, we should expect gold price to reach the red line indicator (tenkan-sen) at $1,250. The longer-term trend is still bearish. Important support is at $1,180.

Alexandros Yfantis neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

Uitgevoerd door, Analytische expert
InstaForex Group © 2007-2015


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree