InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Gold technical analysis for November 16, 2015

    Gold price has finished its decline from $1,190 at a new low of $1,074. Is this a long-term low? For now, we can be pretty sure that at least a bounce should be expected. As I mentioned in the previous posts, gold is at the long-term support level, and bears should be very cautious.


    Show full picture

    Blue TL- Resistance

    Gold price has bounced towards the Ichimoku cloud resistance and has started moving towards higher highs and higher lows in the 4-hour chart. Above $1,130, we can say that short-term trend has changed. Until then, I prefer to stay neutral or place stops for long positions at last week's lows.


    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