empty
 
 
10.02.2015 11:20 AM
Gold technical analysis for February 10, 2015

Gold price remains in a short-term downtrend. The price is making a short-term bounce and I expect selling pressures to come back and push price towards a new short-term low towards $1,220 or even $1,200.

This image is no longer relevant

Black lines = triangle pattern

Red line = bearish flag

The 4-hour chart above shows the bearish flag that gold price is currently forming. Support is found at $1,235 and resistance at $1,245. The price is below the Ichimoku cloud and the trend is bearish. I remain bearish expecting the price to continue lower after the triangle breakout to the downside.

This image is no longer relevant

Gold price is expected to reach the green area as shown on the chart above and most probably to reach the 61.8% retracement. I also believe that if we break below the 61.8% retracement we should expect gold price to test the Ichimoku cloud support at $1,200-$1,190.


通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $9000 more!
    In May we raffle $9000 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

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback