Technical analysis of gold for March 24, 2017
March 24, 2017 8:05 amVideo
Latest News
- Trading Signal for GBP/USD for June 9-12, 2023: sell below 1.2573 (7/8 Murray – overbought) June 9, 2023
- USD/CAD Outlook for June 9, 2023 June 9, 2023
- Video market update for June 09, 2023 June 9, 2023
- US premarket on June 9, 2023: stock market rally pauses June 9, 2023
- EUR/USD trades sideways ahead of June’s key events June 9, 2023
- Technical Analysis – USDCHF returns to losses after four weeks June 9, 2023
- Pound eyes UK GDP and jobs data for clues on BoE rate path – Forex News Preview June 9, 2023
- SEC crackdown sends shockwaves across crypto space, Bitcoin resilient – Cryptocurrency News June 9, 2023
- EUR/USD and GBP/USD: Technical analysis for June 9 June 9, 2023
- Weekly Forex Outlook: 09/06/2023 – Fed, ECB, and BoJ meet after US inflation report June 9, 2023
- Technical Analysis – Gold loses pace near key barrier June 9, 2023
- GBP/USD: trading plan for the American session on June 9 (analysis of morning deals). The pound was not allowed above 1.2560 June 9, 2023
- Analysis and trading tips for GBP/USD on June (US session) June 9, 2023
- Analysis and trading tips for EUR/USD on June 9 (US session) June 9, 2023
- EUR/USD: trading plan for the American session on June 9 (analysis of morning deals). The euro is gradually declining June 9, 2023
- EUR/USD. June 9th. EU GDP did not stop bull traders June 9, 2023
- Forex forecast 06/09/2023 USD/CAD, USD/CHF, USDX and Bitcoin from Sebastian Seliga June 9, 2023
- Week Ahead – Fed, ECB, and BoJ meet after US inflation report June 9, 2023
- Will the Fed pause after 10 straight hikes? – Forex News Preview June 9, 2023
- Daily Market Comment – Stocks resume climb after uptick in jobless claims, dollar tumbles June 9, 2023
The gold price has finally shown some reversal signs that we have been expecting for some time now. The pullback has started and I expect to see Gold price test support around $1,230-$1,220. My long-term view remains bullish.
Blue lines – support trend lines
The gold price has broken trend line support and both oscillators have turned lower showing that the correction phase has just started. I expect the gold price to move towards the Ichimoku cloud support and at least towards the 38% Fibonacci retracement. I expect Gold to make higher lows relative to $1,194.
The gold price is above the Ichimoku cloud on a daily basis. Price has made an important low at $1,194 and has reversed upwards. I expect the price to hold above the cloud and make a higher low before the resumption of the uptrend towards my short-term $1,300-$1,320 target. Support is at $1,220 and at $1,230.The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: