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GOLD: ICHIMOKU CLOUD ANALYSIS FOR MAY 18, 2015

Posted on May 18, 2015 09:45

Gold prices firmed in early Asian Session and crossed the high of several months. As we mentioned earlier, 1205-1210 , strong supporting zone for this metal, on Last Friday this metal placed low 1210.84and today in early Asian Session, placed high 1232.03.
Tenken Sen and kijun are acting as a good support in h1 graph, on Friday the hourly candle test Senko span A and now going in upword direction sharply. Senko span A is above then the Senko Span B, will act as a good support for this metal near price area 1214.52. 
Furthermore the RSI of 14 days is overbought, some correction is expected. We will remain bullish but near 1205-1213 price zone.

Monday, 25 May, 2015 / 2:10

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Source : https://rinvestments.com/forex-forecast/gold-ichimoku-cloud-analysis-for-may-18-2015.html

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