Trading news

GOLD: ICHIMOKU CLOUD ANALYSIS FOR MAY 14, 2015

Posted on May 14, 2015 10:24

 

Since our last analysis, gold has been trading upward, as we expected yesterday, the price tested the price level 1206 with high volume and target 1218 also crossed the third daily resistance level 1216. Strong demand has been observed yesterday.
Ichimoku cloud is indicating strong bullish behaviour for this metal. Tenken sen has crossed kijun sen in h1 graph, above then the clouds and the slope is positive till now. Chikou span is above then the hourly candles. Senko span A is above then the senko span B and the clouds color and direction turned in to bullish direction.
Supposedly, a bearish correction in a form of candlestick pattern in h4 graph, yesterday last candle was a hanging man and today first candle closed in bearish. If the current candle closed in bearish, then an assumption can be created, that gold will try to hit 1208( today pivot level).

Monday, 25 May, 2015 / 12:26

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Source : https://rinvestments.com/forex-forecast/gold-ichimoku-cloud-analysis-for-may-14-2015.html

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