country flagالعربية

Best Opportunities, Vision and Technical Analysis for The Gold 8 February 2019

2019-02-08 08:49 am | Resource: Technical Analysis | No Views : 224

Time frame Used - four hours
Gold is moving in a bearish direction in the near term.
Gold is still facing more selling pressure to witness further decline to hit the 1302 level and then rebound again but it faced resistance and selling pressure around the 1311 level represented by the resistance of the Bollinger's moving average line.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to the continued decline of the indicators.
  Therefore, we expect the gold to test 1302-1298, and this scenario fails in stability at 1316.
The alternative scenario is that the gold re-test the level of 1326, which by breaking it above will target the levels of 1333 - 1345.
Sell Gold around the current level for the target levels of 1302 - 1289 with the activation of stop loss in the case of the closure of the highest level of 1316.
Resistance: 1309 - 1316 - 1326
Support: 1298-1285-1277
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Oil prices falls with signs of rising US oil inventories

Oil prices fell after estimates showed US inventories rose for the sixth consecutive week, the longest run in nearly a year. A preliminary Reuters survey on Monday showed that US crude inventories are expected to increase for the sixth week in a row, while distillate and gasoline inventories are likely to fall in the week to October 18. The American Petroleum Institute reported that crude inventories rose by 4.45 million…

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.