Gold Technical Chart | 19-Sept-2012

Updated on

https://investmentkit.com/media/posts/3854/150_gold-bars1.jpgBelow is the technical chart of Gold, using Doda-Donchian, Ichimoku and Doda-Bollinger Bands.

https://investmentkit.com/media/posts/3854/gold-weekly-19-sep-2012.jpg

I’ve used weekly time frame in above chart to look for medium-term trend.

Doda-Donchian indicator gave BUY signal @$1622.24. But that was weak signal as the price was trading below Doda-Bollinger Bands and Ichimoku Kumo. So, it had to cross the tough resistance to say breakout.

Then, it closed above kumo @$1738.42; confirmed by Doda-Bbands. And there it gave bullish breakout.

It is a clear buy now. Buy Gold even on dips.

Some support levels: 1764.5767, 1755.49

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