empty
 
 
05.05.2016 05:31 PM
Daily analysis of Gold for May 05, 2016

This image is no longer relevant

Overview

Gold price showed bearish bias to approach after testing the bullish support line that is located at 1,268.90, which met the EMA50 to strengthen it. Stochastic is moving bullishly in the four-hour time frame. Therefore, we believe that there are chances to resume the bullish trend in the upcoming sessions. The price needs to breach 1,282.92 – 1,284.75 levels to confirm opening a way towards the targeted levels of 1,344.85. Breaking of the 1,268.90 level will push the price to suffer more losses and test the most important support at 1,227.40 before any new attempt to rise.

The expected trading range for today is between the 1,266.00 support and the 1,310.00 resistance.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback