Gold Technical Analysis – Bearish Outlook

Gold has had a good section today rising 117 points. Today’s rise has initiated a new short uptrend. It seems that investor have found a good reason to buy the commodity. New concern about the return of the Eurozone financial crisis has prompted today’s gold rush.

The new uptrend could not be strong enough to break beyond the long term bearish downtrend. But it offers some relief to the gold bullish investor and short term bullish traders.

It remains to be seen, if the current forming pattern will have enough support or if it will be surrounded by global economic woes, prompting gold prices to once again, aim for the 2000 dollar mark.

gold_technical_analysis

Let’s get started...

Broker Rating Markets Available Fees Open an Account
Kawase Logo
1 Star2 Stars3 Stars4 Stars5 Stars
Rating 3.60 /5
(15 votes cast)
Loading...
Shares, Indices, Forex and Oil Spread From 0.1 and 0.2% Commission Visit Website
Plus500 Logo
1 Star2 Stars3 Stars4 Stars5 Stars
Rating 4.48 /5
(452 votes cast)
Loading...
Stocks, Commodities, Indices and Forex. Zero commissions. No monthly fees. $10 USD fee for unused account for a period of three months. Visit Website
MaxFx Logo
1 Star2 Stars3 Stars4 Stars5 Stars
Rating 4.70 /5
(89 votes cast)
Loading...
Indices, Forex, Metals, Shares From 0.1 Raw Interbank Spread Visit Website

Related Articles

29.06.2015.

Greece to Dominate Sentiment


03.08.2012.

FX Trade


Risk warning: Your capital may be at risk. CFD trading is suitable for experienced traders and not beginners.