Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Gold Technical Analysis: Yellow Metal In Slow Bullish Trend

Published 2017-11-29, 12:37 p/m
Updated 2017-11-27, 09:35 a/m

Gold Price Technical Outlook from Gold Pattern and the next rising bullish price movement

By analyzing the chart of gold prices on the global market exchange we find gold formed a series of successive bottoms and a set of consecutive peaks. The price of the ounce of gold has four previous lows since the end of last October so far, and the current bottom is the fifth. It is clear that each bottom is higher than the previous one and the price of gold in the four consecutive peaks each was higher than the previous peak. Thus, the price of gold is is in a bullish trend, but this bullish trend is slow.

The price of gold near 1283 levels is testing this bullish trend line in the near-term, which is expected to push gold prices higher.

Gold Technical Analysis and Gold Recommendations, trading signals

It is preferable to buy gold

buy @ 1283

tp1 @ 1297

tp2 @ 1307

sl @ 1276

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.