Posted on May 6, 2015 09:32
The yellow metal getting strong since last two consecutive days and continuation is also expected today. Strong bullish sentiments can be seen above the price are 1192. Gold placed high 1199.72 yesterday and ticked down due to the resistance are 1201 and physiological level 1200.
1) Gold trend is strongly bullish, indicated by the SMA 100 and 200 in h1 graph. Shorter SMA has crossed the longer SMA and the current candles are above then the both SMA.
2) We can see a strong bullish channel in h1 graph and expected targets are 1206/1213, for today trading.
3) Ichimoku cloud signal is also bullish in h1 graph. Tenkan sen has crossed kijun sen and senko span is acting as a good support for this metal.