Ichimoku indicator analysis of gold for June 16, 2017 888011000 110888 Gold rate has actually reached the $1,250 location as we expected from $1,280 and higher. Trend is bearish. I believe that Gold weakness will continue and we may see even below $1,245 where crucial support is discovered. Gold bears must be mindful as the time for a bullish turnaround is approaching. Gold cost is trading listed below both the tenkan -and kijun-sen. There are some bullish divergence check in the short-term. Rate is listed below the 38%Fibonacci retracement.Price is expected to reach the 61.8%Fibonacci retracement to $1,245. This is now the time to cover and take profits from any Gold brief position. Black line-long-lasting resistance pattern line Red line-trend line assistance Blue line -long-term support pattern line Gold cost is approaching the red trend line support after being declined at the black long-lasting pattern line resistance. Rate is above the weekly cloud. A bounce off the weekly Kumo at$1,245 will be an extremely bullish sign. As I have been stating last week, Gold was not prepared for a huge breakout. I think the time for a big breakout has actually come closer and I remain longer-term bullish.The product has actually been offered by InstaForex Business-www.instaforex.com

By | June 16, 2017

Share This:

Leave a Reply

Your email address will not be published. Required fields are marked *