InstaForex - Analytics


696.00 6.50/10
61% of positive reviews

Gold technical analysis for August 26, 2015

The gold price has pulled back as expected but it stays above a very important support. A confluence of short-term Fibonacci retracements is at the $1,130-35 area which provides support for the gold price. The short-term trend remains bullish as long as the price is above this area.


Show full picture

The gold price is trading above the 4-hour chart Ichimoku cloud and above the confluence of the Fibonacci retracements relative to the $1,110 and $1,080 lows. The gold price reversed lower from $1,170 and is now testing support. So a break below this support will be a bearish sign. A bounce from the current levels will find resistance at $1,150.


Show full picture

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