empty
 
 
17.01.2017 04:52 PM
Daily analysis of Gold for January 17, 2016

This image is no longer relevant

Overview

The gold price shows slight positive trading gradually approaching our first awaited target at 1,211.31 and keeps moving inside the bullish channel shown on the chart. The EMA50 protects trading inside this channel, providing positive chances of breaching the mentioned level followed by opening the way to 1,249.94. Therefore, we still expect the bullish trend in the upcoming sessions conditioned by the price stability above 1,193.50, as a break of this level represents a negative factor that will push the price to test 1,172.68 before any new attempt to rise. The expected trading range for today is between the 1,193.50 support and the 1220.00 resistance.

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 $1000 more!
    In April we raffle $1000 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