country flagالعربية

Best Opportunities, Vision and Technical Analysis for The Gold 11 February 2019

2019-02-10 10:09 pm | Resource: Technical Analysis | No Views : 229

Time frame Used - four hours
Gold is moving in a sideway direction in the near term.
Gold has rebounded slightly as purchasing power pushed upward to reach the resistance level of 1316 as gold faces selling pressures around this level forming negative candlestick patterns.
  In view of the technical indicators
Both the RSI and Stochastic are indicating to weakness of the indicators.
  Therefore, we expect that the gold will test levels of  1302-1298, and this scenario fails in case of  stability above level of  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
Direction: sideway
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Oil prices drop for a second day amid various news reports production

Oil prices fell on Tuesday to extend their sharp losses from the previous session as weak trade data from China raised concerns about the outlook for energy demand. Barkindo: Oil demand jumps to 112 MB / day in 2040 OPEC Secretary-General Mohammed Barkindo said on Tuesday that global oil demand would likely rise to 112 million barrels per day in 2040. According to the latest OPEC monthly report, global oil…

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.