empty
 
 
12.06.2015 10:04 AM
Technical analysis of Gold for June 12, 2015

This image is no longer relevant

Technical outlook and chart setups:

Gold is trading at $1,182.00 afer pulling back from its yesterday's lows at $1,175.00. Please note that the metal has tested the resistance turned support trendline and bounced back higher, indicating a bullish potential from here on. Bulls should be poised to take out $1,205.00 during the sessions to come. It is recommended to remain long now with risk at $1,150.00. Immediate support is seen at $1,170.00 levels (interim), followed by $1,160.00, $1,143.00, and lower. Resistance is seen at $1,197.00 (interim) followed by $1,205.00, $1,215.00, and higher respectively.

Trading recommendations:

Remain long for now, stop is at $1,150.00, a target is open.

Good luck!

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 $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

Recommended Stories

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