LATEST ARTICLES

Technical analysis on Gold for May 14, 2018

Posted On 14 May 2018
By :
Comment: 0
analytics5af92d4a1cf28.jpg

Gold price has made an important low in May around $1,301 and we are bullish since then. We expect Gold price to reach $1,330-32 in the short-term and most probably this week before a move towards $1,310 again and the setup for a bigger bounce.

The 161.8% extension of the first leg higher is our short-term target. This is also important short-term resistance. If Gold manages to break above, then we could even make a move towards the next Fibonacci target at $1,350. Support is at $1,301 and as long as the price is above that level, we consider any pullback as a buying opportunity.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Technical analysis on Gold for May 14, 2018

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*

[adrotate group="2"]
[adrotate group="15"]

InstaForex – Market Analysis

<a href="https://www.instaforex.com/">Forex Portal</a>

Like Us On Facebook

[adrotate banner= "75"]

Follow on Stocktwits

Follow Us on StockTwits

Connect

facebook
twitter
google-plus
youtube
linkedin
rss
Copyright © 2015 Forex Alchemy. All rights reserved.
Forexalchemy.com is made available as an online source of Foreign exchange trading information and related-materials only. By using ForexAlchemy you acknowledge and understand that we are not soliciting participation in Forex trading. You also acknowledge and agree that there are large potential risks associated with investment and trading activity and that you have accepted such risks before deciding to invest and before deciding to use ForexAlchemy as a source of trading-related information and materials. Please read our full disclaimer and terms of use before using this website:
Disclaimer & Terms of Use     Privacy Policy