country flagالعربية

Gold Technical analysis 31 December 2018

2018-12-30 11:33 pm | Resource: Technical Analysis | No Views : 248

Time frame Used - four hours
Gold is moving in a bullish direction in the near term.
Gold is still facing resistance and selling pressure around the 1279 level, but it is still consolidating above the minor uptrend line.
  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 fall back to level of 1266-1264 again, and this scenario would fail if gold breached the 1279 level higher.
The alternative scenario is that the gold breached level of 1279 to upside to target levels of 1285-1292.
Gold sold around 1279 levels targeting 1266, with the activation of stop loss in the case of closure above the level of 1279.
Resistance: 1279 - 1285 - 1292
Support: 1264 - 1253 - 1241
Resistance: 1266 - 1275 - 1285
Support: 1250-1241-1234
  Direction: Up
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Oil prices on Tuesday after sharp gains in the previous session

Oil prices stabilized on Tuesday after sharp gains in the previous session after a weekend attack by Yemeni separatists on a Saudi oil facility. Oil prices are still supported by talk of more stimulus from central banks and signs of a possible meltdown in the ongoing trade war between the world's two largest economies. Especially after a report showed that China's economic outlook worsens in August The German Center for…

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.