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Ichimoku Indicator

30.06.201511:01 Forex Analysis & Reviews: Gold technical analysis for June 30, 2015

Long-term review

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Gold is trading around $1,175. The overall trend is neutral. Medium- and longer-term trends remain bearish. Critical support is at $1,160 while important resistance is at $1,230.

Gold remains below the Ichimoku cloud and is still inside the triangle pattern. The price is trading near the lower triangle pattern boundaries. Critical support is at $1,160-$1,150.

The weekly chart remains bearish in the long term as the price remains below the cloud resistance and both tenkan- and kijun-sen indicators. I would remain bearish and add to my short positions once we break below $1,130 with a tarteg at $1,000.

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