Gold Technical Chart | 22-Apr-2013

Below is the technical chart of Gold, using Doda-Donchain, Doda-Bollinger bands and Ichimoku indicators.

 

 

 

After a steep fall of Gold last week to the level of around $1300 (which I mentioned in my last article), it started to bounce back. 

At this stage, Gold is trading around $1422. Looking at its technical chart, using H4 time frame, Gold will face resistance inside kumo. But the kumo upper line is flat. That means, it’s attracting the price and Gold will surely touch $1455 in coming trading sessions. 

The same level has been defined as resistance, looking at its daily chart.



So, I suggest to book profits around $1455 levels and wait for further chart formation.

 

 






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