Condizioni di trading
Strumenti
Gold price made a new higher high yesterday but it was not confirmed on the 4-hour chart by the RSI, which means that bulls need to be very cautious as a pullback is imminent. Trend remains bullish in the short-term and I continue to target $1,200-$1,220 for a reversal.
Red lines- bullish channel
Blue lines - divergence signs
Gold price continues to trade inside the bullish channel and above the 4-hour Ichimoku cloud. There are bearish divergence signs that provide a warning for Gold bulls. A pullback is justified and expected in the short term. Short-term support is at $1,180 and resistance at $1,200-$1,220.
Gold price should at least reach the 38% Fibonacci retracement of the decline from the post election highs at $1,210 and ideally it would test the daily Ichimoku cloud resistance at $1,215-20. A pullback should be expected after that. Support is at $1,150-60. Gold bulls will need to see a higher low and an upward reversal in order to assume that $1,122 is an important long-term low.Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.