empty
 
 
17.05.2019 09:17 PM
Weekly Gold analysis

Gold price started this week on a strong foot breaking above $1,290 and reaching $1,302. However this strength was short-lived and it now looks more like a fake break out and a bull trap. Gold price ends the week below $1,280. The weekly candle cautions for more downside to come.

This image is no longer relevant

Blue line - major trend line resistance

Red line - major trend line support

Red rectangle - short-term support

Gold price is ending the week below $1,280 and the bearish black candle with the long upper tail implies that the move above $1,290 was most probably a fake break out. Gold price has support at $1,276 as we mentioned in previous posts and a break below it will open the way for another leg down in Gold price towards $1,250-30 area. Resistance remains at $1,300 as we noted in previous posts. Bulls need to recapture and stay above of $1,300 in order for them to be in control of the trend. The major rejection back in January at $1,347 may lead to a move towards the red upward sloping major trend line support. This gives us a target between $1,200-$1,220.

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN
  • Chancy Deposit
    Deposit akaun anda sebanyak $3,000 dan dapatkan $8000 lebih lagi!
    Dalam Mac kami membuat cabutan bertuah $8000 dalam Kempen Chancy Deposit!
    Dapatkan peluang untuk menang dengan membuat deposit $ 3000 ke dalam akaun dagangan. Setelah memenuhi syarat ini, anda menjadi peserta kempen.
    SERTAI PERADUAN
  • Trade Wise, Win Device
    Daftar untuk peraduan dan tambah dana akaun anda dengan sekurang-kurangnya AS$ 500 untuk layak memenangi peranti mudah alih.
    SERTAI PERADUAN
  • Bonus 100%
    Peluang istimewa anda untuk menerima bonus 100% pada deposit anda
    DAPATKAN BONUS
  • Bonus 55%
    Dapatkan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • Bonus 30%
    Dapatkan bonus 30% setiap kali anda membuat penambahan dana akaun anda
    DAPATKAN BONUS

Artikel yang dicadangkan

Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget