InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Gold for June 12, 2015


    Show full picture

    Technical outlook and chart setups:

    Gold is trading at $1,182.00 afer pulling back from its yesterday's lows at $1,175.00. Please note that the metal has tested the resistance turned support trendline and bounced back higher, indicating a bullish potential from here on. Bulls should be poised to take out $1,205.00 during the sessions to come. It is recommended to remain long now with risk at $1,150.00. Immediate support is seen at $1,170.00 levels (interim), followed by $1,160.00, $1,143.00, and lower. Resistance is seen at $1,197.00 (interim) followed by $1,205.00, $1,215.00, and higher respectively.

    Trading recommendations:

    Remain long for now, stop is at $1,150.00, a target is open.

    Good luck!


    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