empty
 
 
21.05.2014 10:22 AM
Gold technical analysis for May 21, 2014

Gold remains inside the sideways triangle pattern. Volatility is expected soon to rise and Gold price to start a new move. Gold price will soon start a new move as we expect volatility to rise as this sideways move has lasted too long and the price range is getting tighter.

This image is no longer relevant

Gold price is in a tight price range. Short-term triangle resistance is found at $1,305-09. Short-term triangle support is found at $1,285-83. A break of either level will signal a buy or sell respectively. If resistance is broken we should expect Gold price to reach $1,330 and why not surpass it. If support is broken we should expect the recent lows at $1,268-70 to be tested and most probably broken. If price breaks $1,331 we will then go to $1,350. If $1,268 is broken we should expect a move down to $1,200.

This image is no longer relevant

The daily chart above also shows how important the role of the Ichimoku cloud resistance that it will play in the near term. Even if price breaks above $1,309 we should be aware of a fake break out as the Ichimoku cloud resistance could push the price back down even after the break out. Such a fake breakout, if it occurs, will signal extreme weakness favoring our longer-term target of $1,100.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback