Best Opportunities, Vision and Technical Analysis for The Gold 11 February 2019
2019-02-10 10:09 pm | Resource: Technical Analysis | No Views : 229
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
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…
- Gold prices stability is anticipated for US-China trade negotiations 10:23 am2019-10-15
- Gold price rose under the China-US trade negotiations 09:58 am2019-10-14
- Crude oil prices fall ahead of Russia and Saudi Arabia talks on oil 08:42 am2019-10-14
- Crude oil prices rises after attack on Iranian tanker in Red Sea 11:04 am2019-10-11
- Gold rises during close of weekly trading despite commercial optimism 08:29 am2019-10-11
- Gold futures stabilize as dollar weakens ahead of US inflation data 12:19 pm2019-10-10
- Oil stability and India breach US sanctions on Venezuela 09:00 am2019-10-10
- Gold futures rose as demand rose immediately for precious metals 09:58 am2019-10-09
- Oil stabilized Wednesday after data from American Petroleum Institute 08:33 am2019-10-09