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Ichimoku indicator analysis of Gold for November 2017

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Ichimoku indicator analysis of Gold for November 2017 Empty Ichimoku indicator analysis of Gold for November 2017

Post  Admin on Thu Nov 02, 2017 10:21 am

The Gold price has entered the Ichimoku cloud. The trend is now neutral. Support is at $1,267 and resistance remains at $1,283. Many stops are placed above $1,283 so a break above it will most probably push price towards $1,295-$1,300. This will be the first step towards the start of a new upward leg towards $1,400.

Gold weekly chart remains above the weekly Kumo. The trend is bullish. Gold could pull back towards $1,245-50 and the weekly Kumo but if price breaks above $1,307 we should expect a retest at the magenta trend line resistance.



Ichimoku indicator analysis of Gold for November 2017
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