empty
 
 

13.05.202215:07 Forex Analysis & Reviews: Gold challenges major support

Gold price has reached our second target of $1,825 and is now trading around $1,810. Trend remains bearish. Price is trading slightly below the major weekly trend line support. Bulls need to step in and push price higher. If price bounces from current levels, then we have confirmation that this is a support area. Also using the Ichimoku cloud indicator we get similar conclusions.

Exchange Rates 13.05.2022 analysis

In Ichimoku cloud terms, Gold price is challenging the weekly Kumo (cloud). Trend is bearish in the short-term but price has now reached important cloud support. Will price respect the cloud support? We are currently at a price level where a bounce is justified. Traders need to be cautious.

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Alexandros Yfantis,
Chuyên gia phân tích của InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.