InstaForex - Analytics

    InstaForex

    694.50 6.50/10
    61% of positive reviews
    Real

    Technical analysis of Gold for June 10, 2016 2016-06-10

    Gold price continued its upward movement towards a new higher high at $1,272.50. The trend remains short-term bullish as long as price is above $1,257. Gold is expected to pull back towards $1,245 at least and then resume its upward move.

    analytics575a5b588c5fc.jpg

    Show full picture

    Red line - short-term support

    Gold price is trading above the Kumo (cloud) confirming a short-term bullish trend. Price has also broken above the downward sloping black trend line resistance. Now I expect a pullback to test at least the 38% Fibonacci retracement.

    analytics575a5ba352d89.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