empty
 
 
27.03.2018 09:05 AM
Ichimoku cloud indicator analysis of Gold for March 27, 2018

Gold price is trading above $1,350 but still below January highs. Trend is bullish in the short-term as long as the price is above $1,350. I believe Gold has more chances of a pull back for a higher low than a continuation of the upward trend. Only aggressive traders should try a short position.

This image is no longer relevant

Blue lines - trading range

Gold price is above both the tankan- and kijun-sen indicators. Support is at $1,350 and next at $1,334. I expect a pull back from current levels and the creation of a higher low in the area of $1,310-$1,325. Resistance is at $1,357-65.

This image is no longer relevant

Magenta line - long-term resistance

Blue line - long-term support

Gold price is testing the long-term resistance trend line at $1,355-65 area once again. Trend is bullish as the price is above both the tankan- and the kijun-sen indicators. Weekly support is at $1,331 and next at $1,300. So far, the price has respected all support levels but has not broken above the critical long-term resistance. I expect this resistance to eventually break and we will see the Gold price above $1,400.

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