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GOLD Technical Analysis 01-05-2015

Rexor Investments

The yellow metal prices eased yesterday after the FOMC Statement decision on last Wednesday. The Fed has decided to continue its ongoing policy and current changing has been made. Gold moved more than $37/ounces in down word direction after this news.

Take a look on technical indicators.

Ichimoku cloud signal is bearish in H1 graph .In 1 hourly graph, tankan sen has crossed the Kijun sen and indicating some drop here. After the long wave A completion, this metal has completed the corrective wave 2 and now the 3rd Wave C has been started so 1159 can be seen in coming days.

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