Ποιος θα γελάσει τελευταίος;
January 26, 2015
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January 31, 2015

Gold price is making a short-term pull back from $1,308 towards $1,270. This pull back is part of the upward movement that started at $1,168 and I believe is not over yet. Gold price is above the upward sloping red trend line and above the Ichimoku cloud support favoring bulls maintain the upper hand.

gold

Gold price has short-term support at $1,275-70 and short-term resistance at $1,298. As long as Gold price remains above the recent low at $1,272 and holds above the cloud, bulls have more chances of success than bears. Breaking above short-term resistance at $1,298 will confirm we are heading towards new short-term highs above $1,310 with most probable target at $1,330.

goldh4

As always, thank you for taking the time to read my new post.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.