InstaForex - Analytics

InstaForex

696.00 6.50/10
61% of positive reviews
Real

Gold technical analysis for March 18, 2015

Gold price broke out and went down the triangle pattern yesterday. Today, it still holds above the level of $1,130, which is the lowest since 2014. I believe it is a matter of time befor the price breaks new lows, as trend remains fully bearish. Support is found at $1,142 now and next at $1,130.

goldh4.jpg

Show full picture

Black lines=triangle pattern

Gold price remains below the Ichimoku cloud. Yesterday, it broke below the triangle pattern, pushed back inside and today we find Gold price back below the triangle. This is not a bullish sign and the short-term trend will remain bearishas long as price is below $1,166. Ichimoku cloud resistance is found at $1,163.

goldd.jpg

Show full picture

Blue line=support

In the weekly chart above, gold price remains in a bearish trend with mounting chances to break below $1,130, which is the lowest level since 2014. Trend remains bearish. The price remains below the Ichimoku cloud resistance and below the kijun-sen. Important support is at $1,130. If it gets broken, then I would expect Gold price to slide lower towards $1,000 or even $900.

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