Thursday, January 25, 2018

Gold analysis for 25.01.2018

The USD weakness along with the serious threats of global inflation have helped gold to grow towards high levels. The support rests at 1352.77 with resistance at 1367.04 which both lines are above the weekly pivot point at 1334.13. The EMA of 10 is moving with bullish bias in 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 showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal. 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. While there might be several pullbacks on the way, Gold will continue its bullish trend targeting 1400.

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