empty
 
 
18.02.2015 10:45 AM
Gold technical analysis for February 18, 2015

Gold price made a strong downward reversal yesterday and broke our short-term support at $1,216. We expected gold price to move towards $1,200 once this support was broken and this is exactly what happened. Gold price stopped the decline just above $1,200. Now prices bounce, but this bounce is weak and I cannot rule out a new downward move to $1,190.

This image is no longer relevant

Blue trend lines = bearish flag

Gold price is moving sideways with a slight positive slope. The price is most probably consolidating before the next move down. This could be a bearish flag pattern formation. This is a bearish sign. As long as gold price is below $1,225, the trend is bearish for the short term.

This image is no longer relevant

On the weekly chart above I show how the price got rejected at the weekly cloud resistance; and now it has broken below both the tenkan-sen and the kijun-sen indicators. If this week closes below the kijun-sen (yellow line), it will be a very bearish sign with high probability of this downward move for gold accelerating to new lows.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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