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GOLD: ICHIMOKU CLOUD ANALYSIS FOR MAY 20, 2015

Posted on May 20, 2015 07:33

On breakage of 1200 will open door for the price area 1180.Gold prices ticked down on the 2nd consecutive day. The yellow metal placed high 1232.17, on 18th May,2015, crossed the high of several days. 
Ichimoku cloud is indicating neutral behavior for this metal. In H1 graph the direction is bearish while in h4 graph the currently candle is strongly supported above the price area 1190. In daily graph the candle has crossed the Senko span A but unable to continue its trend and ticked down sharply, yesterday. 1200-1205 is a good bullish zone for this metal.
In hourly graph, the metal has crossed the bearish channel and going in to bearish trend even today.

Monday, 25 May, 2015 / 4:06

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Source : https://rinvestments.com/forex-forecast/gold-ichimoku-cloud-analysis-for-may-20-2015.html

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