InstaForex - Analytics

    InstaForex

    701.25 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Gold for May 16, 2016 2016-05-16

    Gold remains supported and mainly moves sideways in a neutral range between $1,290 and $1,250. A breakout above or below this range will push the price towards $1,350 or $1,190 respectively.

     

    analytics57396da5ace05.jpg

     

    Show full picture

     

    Gold is trading again above the Kumo on the 4-hour chart but below the black trendline and with the stochastic oscillator diverging. $1,262 is an important short-term support. If broken, we will test $1,250. On the other hand, a 4-hour candle close above $1,285 will improve the chances of a continuation of the bullish trend.

     

    analytics57396e1b512b3.jpg

     

    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