empty
 
 
26.07.2017 09:31 AM
Technical analysis of gold for July 26, 2017

The Gold price got rejected just below the $1,260 level yesterday and has pulled back towards $1,245. Support is critical now at $1,243-$1,237 and if this level is broken we should expect a move at least towards $1,227.

This image is no longer relevant

Red rectangle - support area

Blue trend line - support

The Gold price remains in a bullish trend as price is above the Kumo (cloud). Price is pulling back to back test the breakout area of $1,243-40. Holding above the red rectangle and the blue trend line will be a bullish sign and might bring in more buyers for another leg higher towards $1,275-80.

This image is no longer relevant

The Gold price got rejected at the Daily Kumo and near the 61.8% Fibonacci retracement of the decline. The daily trend remains bearish as long as the price is below the Kumo. Daily support is at $1,237-31. Resistance is at $1,257 and next at $1,265.
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 $9000 more!
    In May we raffle $9000 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