InstaForex - Analytics

    InstaForex

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    Gold technical analysis for March 22, 2016 2016-03-22

    Gold price has broken above the short-term bearish channel. Price remains in a sideways channel and could now be starting the final move higher towards $1,300.

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    Red lines - bearish short-term channel

    Stochastic oscillator is oversold and it is turning higher at the 4 hour chart. Price is reversing above the bearish channel. This is a bullish reversal signal for the short-term. Support at $1,240 is critical now. As long as we are above it, there are chances of making a final new higher high towards $1,300.

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