Gold technical analysis 36
Open demo account
FOREX trading implies serious risk and can result in the loss of your invested capital

If we look at the arrow on the weekly gold price chart we can see that a resistance point that was first encountered in around august of last year has proved to be problematic with gold bouncing off the same downward trend line again in September and more recently the beginning of this year.

It made a run for the $1,365 mark which is the top resistance line in the chart also at the beginning of the year but was quickly rejected and has not returned to this point ever since.

 Gold needs to make a sustained break firstly through $1,350 which is the current resistance point on the middle downtrend line and then the top line  of $1,365 as shown by the arrow at the top in order to push significantly higher.

The material published in on this page is produced by the FIBO group companies, and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Analyst

The world of trading has no boundaries

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 58% of retail investor accounts lose money when trading CFDs with this broker. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IMPORTANT: Please be informed, that our services are available for Professional Clients only. Our website is currently under review for the implementation of the correspondent amendments.

Important notice
By clicking "Continue" you will be redirected to the website operated by FIBO Group, LTD company registered in BVI and regulated by FSC. Please familiarize yourself with the Customer Agreement through the link. Click "Cancel" to remain on this page.