Advertisement
advert
FxAllNews
main970 2

Forex Technical Outlook GOLD 29.06.2017

29 June 2017 06:39 PM BDT
Forex Technical Outlook GOLD 29.06.2017

GOLD

Spot Gold returned below daily cloud after the third continuous strong rejection at $1253 resistance zone. Three daily candles with long upper wicks weigh on near term structure, after rallies repeatedly failed to close above cracked 100SMA ($1249). Near term bias shifts lower on fresh bearish acceleration that pressures support at $1241 (lows of 27/21 June) and may extend lower for retest of key near term support at $1236 (26 June low / 200SMA). Newly created 10/100SMA bear cross maintains fresh bearish pressure, with today’s close below daily cloud to confirm negative stance. Cloud is spanned between $1246/49 and now acts as resistance, guarding upside rejection levels and upper pivots at $1253/54. Alternative scenario requires close above daily cloud and regain of $1253/54 barriers to re open key barrier at $1258 (Fibo 38.2% of $1296//$1236 descend / 55SMA / double upside rejection).

Res: 1246; 1249; 1254; 1258 Sup: 1243; 1241; 1236; 1230

Add Your Comment
Forex Forecast and Cryptocurrencies Forecast for April 08 - 12, 2019
Forex Forecast and Cryptocurrencies Forecast for April 08 - 12, 2019
Forex Forecast and Cryptocurrencies Forecast for February 11 - 15, 2019
Forex Forecast and Cryptocurrencies Forecast for February 11 - 15, 2019
Forex Forecast and Cryptocurrencies Forecast for February 04 - 08, 2019
Forex Forecast and Cryptocurrencies Forecast for February 04 - 08, 2019
Forex Forecast and Cryptocurrencies Forecast for January 28 - February 01, 2019
Forex Forecast and Cryptocurrencies Forecast for January 28 - February 01, 2019
Forex Forecast and Cryptocurrencies Forecast for January 21 - 25, 2019
Forex Forecast and Cryptocurrencies Forecast for January 21 - 25, 2019
Forex Forecast and Cryptocurrencies Forecast for January 14 - 18, 2019
Forex Forecast and Cryptocurrencies Forecast for January 14 - 18, 2019
Forex Forecast and Cryptocurrencies Forecast for January 7 - 11, 2019
Forex Forecast and Cryptocurrencies Forecast for January 7 - 11, 2019
Forex Forecast and Cryptocurrencies Forecast for January 7 - 11, 2019
Forex Forecast and Cryptocurrencies Forecast for January 7 - 11, 2019
Canada GDP expands in October, but inflation dips
Canada GDP expands in October, but inflation dips
Forex Forecast and Cryptocurrencies Forecast for December 10-14, 2018
Forex Forecast and Cryptocurrencies Forecast for December 10-14, 2018
Technical Reviews for Gold and Silver (December 2018)
Technical Reviews for Gold and Silver (December 2018)
Forex Forecast and Cryptocurrencies Forecast for December 03-07, 2018
Forex Forecast and Cryptocurrencies Forecast for December 03-07, 2018
Left 120x600
Right 160x2