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GOLD: TECHNICAL SUMMARY FOR MAY 12, 2015

Posted on May 12, 2015 09:38

 

Gold prices ticked down sharply, yesterday and trading near the lower range of 3 weeks, The yellow metal unable to cross the 1210 and 1168. This metal is trading below the daily pivot level 1184.67.

Ichimoku cloud is acting strong resistance and indicating bearish continuation today. Tenken sen and kijun sen are above then the candles in h1,h4 and daily graph. Kijun sen is in horizontal position above then the candles and acting as a strong resistance level. Furthermore Senko Span A and Senko Span b are above then the candles and making bearish cloud for this metal.

Gold is likely to find support near 1177, on breakage open door for 1171 and 1167 respectively on the other hand resistance near 1190 on breakage open doors for 1197 and 1203 respectively.

Monday, 25 May, 2015 / 12:16

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