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Commodities | Indices Blog - Forexmospherians.com

Commodities (7)

Technical Analysis | GOLD MONTHLY

Chart 5-1-2016 Gold Monthly Time Frame. Gold is seen as an over all up Trend but more recently Gold sellers have taken control of the negative market sentiment, found on Dovish counter from the last top. Gold is now stalling the bear counter and finding more support, this is identified through the price action breaking through the Resistance of a sloping downwards Channel. Lets see if this latest move proves to be more aggressive over the coming weeks which would offer Bulls the long awaited confidence needed to boost them in the current market climate. Gold buyers should put this on the one on the watch list.

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