InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Gold technical analysis for November 5, 2015

    The gold price continued with its downward move despite holding above the long-term support trend line coming from $1,080. Breaking below this trend line is not a good sign for gold bulls. A bounce towards $1,130 is confirmed here but it seems that we are not going to avoid a new low below $1,080.


    Show full picture

    The gold price remains below the Ichimoku cloud confirming that the short-term trend remains bearish. Stochastics is oversold with divergence and it could point to a bounce at least towards $1,130 where we find the 38% Fibonacci retracement.


    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