InstaForex - Analytics


    700.25 6.25/10
    62% of positive reviews

    Gold technical analysis for February 12, 2016 2016-02-12

    Gold price has reached $1,265 which, I believe, is a short-term top. There are signs of a trend reversal and I prefer to be neutral or short on gold at the current levels. Gold is expected to make a pullback.


    Show full picture


    Show full picture

    Gold price has broken out above the Ichimoku cloud and the downward sloping wedge. However, I believe it is time for a pullback now, so I prefer to exit longs. The price is expected to pull back towards at least $1,200. If $1,200 is held, we should expect a new final leg up to come towards $1,300. If $1,200 is broken, we should expect $1,150 to be tested.

    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