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Gold price remains in an uptrend as price made a higher high and higher low. Price has reached the lower target of $1,280 on Friday. I'm bullish since $1,250 is calling for a strong bounce towards $1,280-$1,300. A major low could still be in but we can't confirm that yet.
Blue line - supportPrice is trading above the Ichimoku cloud on the 4-hour chart. Support is at $1,260. Resistance remains at $1,310-$1,320. Shorter-term resistance is at $1,290.
Gold price continues to trade above the daily tenkan-sen (red line indicator) support and is heading towards my short-term target at the daily kijun-sen resistance (yellow line indicator). I remain longer-term bullish. A push towards $1,200-$1,170 will be a gift for bulls, however I'm not so sure it can be achieved.Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.