empty
 
 
28.04.2017 09:23 AM
Ichimoku indicator analysis of gold for April 28, 2017

Gold price is vulnerable to move towards $1,250. The short-term trend remains bearish. However, I favor long positions in the area of $1,245-60 targeting a move above $1,300. Gold remains in a longer-term bullish trend towards $1,500-$1,600.

This image is no longer relevant

Blue lines - bearish channel

Gold price remains inside the bearish channel and below the cloud resistance. The price is trading around the Tenkan-Sen (red line indicator). Bulls need to break the bearish channel and push above the Kumo cloud to allow cloud indicators to remain positive. A cross of the kijun-sen below the tenkan-sen will be a bearish signal.

This image is no longer relevant

Gold price closed below the kijun-sen yesterday and is trying to push back above it today. The daily resistance is found at the tenkan-sen (red line indicator) at $1,276. Daily cloud support lies at $1,230. I remain bullish in the longer term.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback