gold price technical analysis

Gold price technical analysis for 2017 indicate that gold price is going to decline in the first quarter of the year. gold price last year was between 1190.00 and  1253.30 U.S.D/ Ounce of gold so we can conclude that according to my study its highest point in the first quarter of the year is 1381.88 U.S.D / Ounce of gold. 

According to trading rules within price channels, the rebound bearish that emerged after the recent rally, which collided with the level of the descending channel resistance to long-term, which means that the price on the way to target the channel mentioned support, and that goes a long way toward 750.00, but there are important support barriers should the price break to confirm a continued decline, these levels start at 1087.08 and 890.29.

from that point gold price technical analysis show us if gold price succeeded to break the level of 1333.33 U.S.D / Ounce of gold it means gold price will end the down trend and will go with the up trend by the second quarter of year, but if it does not it mean that gold price will continue in the down trend.

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