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Gold prices ceased intermittently with bilateral trading on Tuesday. The rebound in the US dollar index compared to the recent decline helped put pressure on gold yesterday. The USD / USD fell to the bottom of the Ishimoku cloud over the 4 hour period before finding enough support to reverse its course. Concerns over the tensions of the US-China trade war have resurfaced after a Trump administration official announced that the White House would announce more tariffs on goods Chinese
. (The moving average for nine periods – the red line) and Kegen-Sen (moving average for 26 periods – Green Line) indicate that upward and downward movements have difficulties obtaining short-term control. However, remember that prices are always below the daily cloud of Ichimoku. Support on 36/1240 will be in jeopardy as long as 1273.50-1270 resistance has not been violated. To achieve this, the upward movement has pbaded the level of 1262 and 1265.
In addition, the downward movement has resulted in prices lower than 1246 to get closer to the 36/1240 region. If this support is violated on a daily basis, expect further declines with goals. At 12:30 and 12:12, when we become less than 1225, the market will target 15/1218
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