country flagالعربية

Gold Technical analysis 18 December 2018

2018-12-17 11:13 pm | Resource: Technical Analysis | No Views : 245

Time frame Used - four hours
Gold is moving in a sideway direction in the near term.
The purchasing power managed to regain control of the gold movement again to bounce back from the support level of 1234 as we mentioned in the previous report to reach the resistance level of 1248 as the gold faces resistance and selling pressure around this level forming a negative candlestick pattern.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
  Therefore, we expect that the gold will retreat to level of 1241 again and this scenario will fail if gold broke the 1250 level to upside.
The alternative scenario is that the gold broke 1241 level down to target the 1234 level again.
Sell around the level of 1248 for targeting level of 1241 with the activation of stop loss in the case of closure at the highest level 1250.
Resistance: 1245 - 1245 - 1250
Support: 1241-1234-1229
  Direction: sideway
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Oil trades higher as investors await Trump speech on Tuesday

Oil prices rose on Tuesday after suffering at the start of the week on demand concerns. US President Donald Trump is expected to speak about trade later today when he addresses the New York Economic Club in a speech that traders hope will provide more information on progress with China. WASHINGTON (Reuters) - President Donald Trump has confirmed progress in negotiations with China and is nearing the signing of the…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.