FXHIGHWAY

 Breaking News


Gold






2/23/2016 3:31:02 AM

Gold starts recovering again - Technical Analysis - 23-02-2016



Gold prices kept falling in the intraday levels, leaning thereafter on the main upward trend line in the medium and short terms as shown in the attached chart, coinciding with another lean on the SMA50, lending gold positive momentum that helped it rebound today, settling above the pivotal support of 1,211.30, along with an influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart.

Therefore we expect the precious metal to rise in the coming short-term trading, as long as the support of 1,211.30 holds on, targeting the pivotal resistance of 1,248.55.


Target
Risk


Support
Resistance


Trend Bullish

Logs

Advertisements