Gold analysis for 29.08.2017

Gold is growing up as a result of US dollar and stock markets being under pressure. The support rests at 1309.73 with resistance at 1327.71 which both lines are above the weekly pivot point at 1293.53. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD indicator is in positive territory. The ADX is showing buy signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend. Gold will continue its bullish trend towards 1333. https://fxglory.com/gold-analysis-for-29-08-2017/