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GOLD: ICHIMOKU CLOUD ANALYSIS FOR MAY 19, 2015

Posted on May 19, 2015 10:27

Gold prices ticked down little, yesterday and currently strongly supported by the Ichimoku cloud. In daily graph, yesterday candle closed with spinning Topps but closed above the clouds and today candle is indicating strong bullish behaviour
Tenken Sen and kijun shifted above then the candles in h1 graph. Senko span A and B are acting as a strong support for this metal. In daily graph, the candle is testing Senko span A. On the other hand, on breakage of 1218 will open door for 1208.
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 / 4:02

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Source : https://rinvestments.com/forex-forecast/gold-ichimoku-cloud-analysis-for-may-19-2015.html

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