Ichimoku cloud indicator short-term analysis of Gold for September 17, 2019

Gold price is in a bullish medium-term trend as price is above the Daily Kumo. However there are some warning signs in the short-term that could have bearish implications for the medium-term trend.

Price is above the Kumo (cloud) but below both the tenkan- and kijun-sen indicators. The Chikou span (dark green line) is about to break below the price candlestick which is a sign of weakness. As long as price is below $1,520 short-term trend will remain bearish. The tenkan-sen is about to cross the kijun-sen and this would be an initial bearish sign. Weak sign but still bearish. This could lead to a move lower towards the upper cloud boundary near $1.465. Key support is at recent lows at $1,484. Failure to stay above it will lead price towards $1,464-50 at least. The material has been provided by InstaForex Company – www.instaforex.com

Rate this post
MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

Leave a Reply

Your email address will not be published. Required fields are marked *