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Ichimoku analysis.
Weekly price is on bearish market
condition for the ranging within 1077.19 key support level and 1170.06 key resistance level. Chinkou Span line is located below the price for the ranging bearish condition by direction. If the price breaks 1170.06 key resistance level from below to above on close weekly bar so the bullish reversal may be possible in the near future.
Pivot
Points.
The price is ranging between Central Pivot at 1237.48 and S1 Pivot at 1082.97. If the price crosses Central
Pivot so we may see the global reversal of Gold to the
primary bullish market condition, otherwise - ranging within the levels.
Instrument | S2 Pivot | S1 Pivot | Yearly PP | R1 Pivot |
---|---|---|---|---|
XAU/USD |
977.50 | 1082.97 |
1237.48 |
1342.96 |