XAUUSD: Gold is reversing towards 1180 and even bellow

11 feb 2015

At the present time there is a Lagging span on the downside, trying to cross the price and it is going to be easy for it. There is a Tenkan-Kijun twist outside the Kumo cloud which confirm the reversal trend. The RSI Trend line has been broken. Although there is no twist of the Kumo cloud, we can consider this as a proper reversal. This will be confirmed when the price goes towards 1220 and bellow, first target is 1180 but I think that it may very well go beyond that level until 1060. But we have to wait and see.