Technical analysis of Zhb12-07-2016

Written by: ICN.COM at: 12/07/2016 10:40 Bbahafy: Technical Analysis Print E-mail

 

 

After unstable above 1368.00, gold prices fell and temporary suspension of trading between 20 and 50 SMA average, and trade between the average of a reason to keep the possibility of high volatility.

 

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GoldH4

 

But, with the movement of the RSI and ADX, we can note that each of them shows a negative trend may be the reason for the extension of the landing. However, the amount of the decline will depend on the ability of candidates to break the SMA 50 and the price is at $ 1347.00. From the top, the breakthrough of 1368.00 would be a reason to try new heights.

 

Support: 1347.00 -1,331.00 -1,317.00

Resistance: 1360.00 -1,367.00 -1,375.00

Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate