Ichimoku cloud sign analysis of gold for March 12, 2018 888011000 110888 The Gold cost stays inside the trading series of $1,300-$1,350. Rate is moving above and listed below the 4-hour cloud for the last few weeks. There is no clear pattern. This is much better depicted in the Daily chart as cost remains inside the cloud. Red line-resistance Blue line- support The price is trading again above the 4hour Ichimoku cloud. The price reached again simply above the$1,310 location and bouncetowards the cloud area. Assistance is at$1,312.50 and resistance at the kijun-sen(yellowline indicator)at $1,326. There is no clear short-term trend. Magenta line-long-lasting resistance Red line-assistance trend line On a daily basis, the Gold cost is inside the Daily Kumo. Trend is neutral. Assistance is at$1,300 while resistance is at$ 1,337-40. Long-term resistance is at $1,350 and we will get really bullish on a break above that area. Till then we prefer to remain cautious.The material has been provided by InstaForex Company-www.instaforex.com

By | March 12, 2018

Leave a Reply

Your email address will not be published.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