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9/17/2015 12:29:22 AM

Gold turns to rise - Technical Analysis - 17-09-2015



Gold price breached the descending channel’s resistance followed by the horizontal resistance at 1117.65, to head upwards in the upcoming period, and the first main target is located at 1140.00.

Stochastic is positive now and supports the expected rise, besides that the exponential moving averages 50 and 100 provide positive support to the price, and that makes the bullish trend expected conditioned by holding above 1112.00.


Target
Risk


Support
Resistance


Trend Bullish

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