Main Quotes Calendar Forum
flag

FX.co ★ Technical analysis on Gold for June 7, 2018

parent
Forex Analysis:::2018-06-07T07:03:40

Technical analysis on Gold for June 7, 2018

Gold price remains below short-term resistance. Gold is ready for a spike higher towards $1,330 at least. I 'm bullish about Gold but we also have to be careful in case support of $1,290 fails to hold. If this is the case, we should expect Gold to move lower towards $1,275.

Technical analysis on Gold for June 7, 2018

Yellow line - medium-term resistance

Green lines - Fibonacci targets

Red lines - extension targets

Gold price has major resistance at $1,307. Short-term resistance is at $1,300. Support is at $1,290. Bulls need to break above the yellow line resistance in order to pick up speed and break the triple top at $1,307. If Gold price pulls back, this is considered a buying opportunity.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...