Long-term Gold seems ready to take it to $1,270-$1,300 and then depreciate to levels lower than what we had in the end of the last year.
Chart: XAU/USD H4
Wednesday, April 13, 2016
Gold Declines
Gold is trading lower today after it reached a short-term resistance in the face of $1,263. Price then turned South and started to decline making a low of $1,240. Although Gold made a sharp move to the upside, Bears were able to stop the precious metal from breaking the first resistance level best seen on H4 and are currently trying to reach their first target at $1,230.
Long-term Gold seems ready to take it to $1,270-$1,300 and then depreciate to levels lower than what we had in the end of the last year.
Chart: XAU/USD H4
Long-term Gold seems ready to take it to $1,270-$1,300 and then depreciate to levels lower than what we had in the end of the last year.
Chart: XAU/USD H4
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Gold consolidation continues.
ReplyDeleteIt seems it has space to continue the current retracement.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteIt looks like it found support at $1240.
ReplyDeleteBearish reversal.
ReplyDelete1240 support level is still holding.
ReplyDeleteIt could have found some support on the moving average.
ReplyDeleteGreat analysis.
ReplyDeleteReally helpful post.
ReplyDeleteImportant information, will keep it in mind!
ReplyDelete