Gold: bulls are losing their control

Gold: bulls are losing their control

On the daily chart of gold, the bulls failed to update the February high, and at the present time, there is a correction to the uptrend. The nearest support levels are located near the $1,236  and $1,229. The resistance is lying at $1,260. Until the quotes are still within the upward trading channel, the control over the bullion is still in buyers' hands. 

On the hourly chart of gold, the "Shark" pattern was activated. Its 88.6% and 113% targets help us to identify the convergence zones. The technical outlook for the pair is still bullish, so the drop of quotes to $1,229 and $1,223 will allow us to open long positions. 


BUY 1229 SL 1220 TP 1254,

BUY 1223 SL 1212 TP 1254. 


Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera