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Direction: Bullish above 1291.00, targeting 1317.00 and 1320.00 as long as the price trading above 1281.00
2016-06-16 16:06:18

Gold, 16-06-2016

on: In: Technical Analysis
 Print
Gold price rose as expected to touch levels around the psychological barrier of 1300.00, and trading close to 1303.56 previous top. Trading above 1291.00 might be a reason for more bullishness today, depending on the positivity appears on the moving averages and ADX indicator.

GOLD@Daily

However, due to the presence close to the psychological barrier and RSI approaching 70 line, we should not exclude a large fluctuation. Generally, we will be positive as long as the trading stabilized above 1281.00, taking into account that breaking 1291.00 will weaken the positivity on intraday trading today.

  • Support: :1291.00 – 1281.00 – 1275.00
  • Resistance: 1310.00 – 1317.00 – 1320.00

Direction: Bullish above 1291.00, targeting 1317.00 and 1320.00 as long as the price trading above 1281.00

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