27.08.201908:31 Forex Analysis & Reviews: Gold remains inside weekly bullish channel

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Gold price broke above the short-term trading range and is closing in on our next upside target of $1,570 which is the 161.8% Fibonacci extension of the first upward move. Trend remains bullish as bulls have so far defended the key support at $1,500-$1,490.

Red lines - bullish channel

Green line- major trend line support

Blue lines -extension targets

Gold price continues to make higher highs and higher lows. Price has made a new yearly high at $1.555. The short-term resistance at $1,530 was broken and this has fueled this push above $1,550. Support remains key for the short-term at $1,500. Resistance is at $1,570. In shorter time frames there are bearish divergence signs by the RSI. Eventually this signs will be confirmed and my most probable target for a pull back would be $1,450-$1,400. No reversal sign yet, but bulls need to be cautious. Raising their stops is key in order to stay inside this bullish trend, but also avoid being caught with the wrong position when the correction comes.

Back to the list

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.