07.08.202022:57 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of Gold

Long-term review

Gold price ended the week higher making new weekly all time highs and closed above $2,030. Trend remains bullish. The precious metal was under pressure on Friday as most probably profit taking by bulls took place.

Gold price today made a new higher high but price closed below yesterday's lows. This is a warning sign of a short-term top. I do not expect price to form a major top. My first pull back target is at $1,990 and my second target is at $1,922. As we said in previous analysis, Gold price justifies a pull back. Any pull back is seen as buying opportunity. We expect Gold price to continue higher over the coming months.

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

Alexandros Yfantis,
Analytical expert of InstaSpot
© 2007-2024

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