Posted on May 25, 2015 09:00
Gold prices getting lower since last Monday, The yellow metal placed high 1232.18 on 18th May and crossed the high of several days but this breakout looks false, when it again come down and placed low 1201.
Ichimoku cloud is indicating strong bearish trend. In, h1 and h4 graph, kijun sen and tenken sen are acting as a good resistance for this metal. In h4 graph, the candle has crossed the clouds and getting lowered. Senko span A and B are also acting as a resistance for this metal.
The yellow metal is likely to find support near 1193.97 followed by 1186.61 and resistance near 1213.35 followed by 1220.71.