Condiciones de negociación
Products
Herramientas
Gold price has pulled back down breaking short-term support and the upward sloping trend channel. Gold price is trading now at $1,314 and as we predicted yesterday a short-term top is placed above $1,325 and this is most probably wave A. We also gave a target for the pull back yesterday and it seems we are close to reaching it. Wave B down has started and is expected to move towards the Ichimoku cloud.
My pullback target for wave B down is between $1,300 and $1,308. This does not mean that the decline that started yesterday cannot go any lower. As far as the bigger structure is concerned, I believe that once this decline is over near $1,300, we should anticipate another move higher in Gold price towards $1,350.
Gold did not manage to stay above the 38% retracement. This rejection will bring Gold price lower. The final end of the upward corrective move I expect to be near the 50% retracement. However, a break below $1,275 could change this scenario. The long-term trend is down and we should mainly focus on short positions as the longer-term target is $1,100.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.