Friday, November 17, 2017

Gold analysis for 17.11.2017

Gold has been volatile for the last recent days. The support rests at 1280.31 with resistance at 1284.09 which both lines are above the weekly pivot point at 1276.70. The EMA of 10 is moving horizontally in the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in neutral territory. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Long positions are recommended towards 1300.

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