Technical analysis of gold for July 10, 2017
July 10, 2017 7:29 amVideo
Latest News
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
- Trading plan for GBP/USD on April 16. Simple tips for beginners April 16, 2024
- Trading plan for EUR/USD on April 16. Simple tips for beginners April 16, 2024
- Overview of the EUR/USD pair. April 16th. In plain text: The ECB will cut rates in June April 16, 2024
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
Gold price remains in a bearish trend. Price got rejected at the resistance level of $1,230 last week and reversed and made a new lower low. We are now entering an area where Gold price could make an important long-term low.
Blue lines – bearish channel
Gold price is trading inside a bearish channel and below both the tenkan- and kijun-sen indicators. Trend is clearly bearish. However there are divergence signs. Important short-term resistance is at $1,230. Support is at $1,200.
Black line – long-term resistance trend line
Blue line – long-term support trend line
Gold weekly candle has broken below the weekly Kumo. This is bearish sign. However the RSI (5) has entered oversold levels and bears should be cautious. Gold price could continue lower towards $1,170-80 but I believe we have entered a price range where we can see a long-term reversal.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: