country flagالعربية
0

Best Opportunities, Vision and Technical Analysis for The Gold 15 March 2019

2019-03-15 08:44 am | Resource: Technical Analysis | No Views : 140

Time frame Used - four hours
Gold is moving in a bullish direction in the near term.
gold chart
Gold continues its gains as gold rebounded from 1292 level to upward towards to  1311 resistance level, which is expected to be breached above.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating improved performance of the indices.
  Therefore, we expect that the gold will breach at 1311 to upside for targeting levels of  1325-1335 and this scenario fails in the case of instability at the 1292 level.
The alternative scenario is that the gold dropped  to the 1289-1281 levels.
Big Picture
Looking at the daily chart, we notice that gold broke the lower boundary of the up channel and hit to the 61% Fibonacci correction level Forming a positive candlesticks  pattern, and both the RSI and the Stochastic are indicating to the recovery of indicators and accordingly we expect that the gold will target at 1325.
gold daily chart
Recommendation
Buy gold around the current levels for targeting 1311 - 1325 with the activation of stop loss in the case of closure below the level of 1292.
Resistance: 1311 - 1325 - 1335
Support: 1292 - 1281 - 1277
  Direction: Up
Technical Analysis
Commodities Analysis
Bitcoin News


Other news

Gold prices rise as concerns about Gulf tensions rise

Gold prices rose after the United States dropped an unmanned Iranian aircraft, raising concerns about tensions between the two countries, as well as expectations of a US interest rate cut. Dow reaches 100 points in the futures market on hopes of a rate cut The Dow Jones industrial average jumped more than 100 points on Friday as Wall Street stocks rose in pre-market trading, buoyed by the belief that 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 doubts.TradingPekk.com 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.