Gold Analysis : When will the gold come out of its tunnel? - Uniglobe Markets

Gold Analysis : When will the gold come out of its tunnel?

Posted on May 8, 2018 at 09:45 AM

Gold has managed to expand the trading tunnel and make it between 1366 and 1300 levels trading from the beginning of 2018 to the present day. Gold traded at the beginning of the year upward towards the 1366 level but could not break through and trade above it as it returned and traded towards the starting point 1300. This scenariowas repeated four times during the first five months of 2018, as gold does not have the strength to exit this tunnel.

This can be seen as a tunnel trading, the question that arises, to which direction the scraps of the tunnel about 1400 or about 1200?

Waiting for the exit time we will continue to see that gold will remain in the trading channel between 1366 and 1300, as you can benefit from the move both sides at any time.

Support: 1303-1285

Resistance: 1317 – 1340 – 1366

Gold Trend: Trading is a sideways trading between 1300 and 1366 with the use of support points and resistance in the descending or ascending direction.

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