empty
 
 
02.06.2016 08:50 AM
Technical analysis of Gold for June 2, 2016

Gold is trading above the $1,200 level and near the $1,220 short-term resistance. The price is expected to make a strong bounce towards $1,260 at least. However we might first see a small decline and a new low near $1,190 before this bounce.

This image is no longer relevant

Black trend line - resistance trend line

Blue lines - bearish channel

Red line - support trend line

Black lines - price projection

Gold is trading below the Kumo on the 4-hour chart and has also broken the red trend line support. This implies that we should continue lower to new lows. My target is between $1,200 and $1,190. However, it is not necessary to make a new low before bouncing towards $1,260 which is my medium-term target for the next few weeks.

This image is no longer relevant

The weekly chart shows the price has paused the decline just above the 38% Fibonacci retracement. Is the entire correction over? We cannot know this yet but I feel we should start looking for long positions, especially if the price breaks below $1,200. My medium-term target is $1,260.
Alexandros Yfantis,
Especialista em análise na InstaForex
© 2007-2025
Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $6000 mais!
    Em Dezembro nós sorteamos $6000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback