Technical Trend and Levels for Gold for Today

COMEX Gold Today

Based on the pattern prevailing in gold on May 28, it is clear that a strong downward price movement resumed and Murray worked level "1/8". Senior channel is directed downward, indicating that the downward direction of motion of the global trend . Low channel also turned down which means the downward direction and in the medium term. At the moment the price is below the moving average and below the Murray "2/8" , which tells us about the possible downstream movement in the short term . The first purpose of downward movement, thus, is Murray level "1/8" - 1265.63 already achieved . If this level of price overcomes Murray, the new Target will be the level of Murray "0/8" - 1250,00. The moving average is directed downward , and the price is below it, so now more likely downward movement in the coming days. Heiken Ashi colored bars in the last blue, which indicates the local downward motion, so to top of the indicator, which would mean turn upward correction, can maintain short positions. Longhi will be relevant only after fixing prices above the moving average and turn up any linear regression channel. The CCI indicator is about the level of -200, indicating that there is a strong tool oversold, so may soon begin an upward pullback.