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Long-term review

Gold price continues to move sideways in a more complex structure but also holds above the important support of $1,200-$1,210 keeping bulls' hopes alive .

Exchange Rates 26.02.2016 analysis

Green line - short-term support

Yellow line - medium-term support

Gold price remains above the Kumo (cloud) and above both two support trend lines. Support is found at $1,230 in the short-term and at $1,210 in the medium-term. Resistance is seen at $1,254. As long as gold price is above $1,200, bulls will stay in the game for a move towards $1,300.

Exchange Rates 26.02.2016 analysis

Nothing new is seen in the weekly chart. The price is above the critical support of $1,200. Stochastic is overbought. RSI is trying to enter overbought levels. The price is above the downward sloping wedge and above the weekly Kumo (cloud). Weekly support is at $1,200-$1,210. As long as we are above this level, we can see $1,300.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Alexandros Yfantis,
Analytical expert
InstaForex Group © 2007-2019
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