Gold price broke below support yesterday after a wave of strength in the Dollar was the result of the new Fed chair's testominy. Gold is making lower lows and lower highs. Price got rejected at the cloud resistance but is still holding above $1,310-07 support area.
Gold price is trading below the cloud resistance in the 4hour chart. Short-term trend is bearish as long as price is at below $1,337. Our most probable next target is now at the 61.8% Fibonacci retracement at $1,285. This is also the next important support. Resistance is at $1,325-26. This is the first obstacle bulls must overcome, but the most important one is at $1,337.
Gold has reached the Ichimoku cloud in the daily chart as we expected, after the rejection at the tenkan-sen (Red line indicator). Gold is at important support. A daily close below the upper cloud boundary at $1,314 will most probably push price towards $1,300.
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*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
28.02.2018 09:54 AM
