country flagالعربية

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

2019-04-11 08:53 am | Resource: Technical Analysis | No Views : 246

We offer you a gold analysis denominated by US dollars on Thursday, April 11, 2019 with the most important expectations for the price of gold denominated by US dollars in the market.
Time frame Used - four hours
Gold is moving in a bullish direction in the near term.
gold chart
Bulls managed to control the movement of gold to reach the yellow metal to the level of 1310 as we expected in the previous report AS the yellow metal faces resistance and selling pressure around this level.
  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 gold will fall back to the 1301 level, and this scenario fails in case of stability above 1310 level.
The alternative scenario is that gold break 1310 level to reach the 1315 level.
Big Picture
Looking at the daily chart, gold is still consolidating above 61% Fibonacci correction, and The RSI and Stochastic are indicating to the arrival of the indicators in the oversold area and there is a positive divergence between the indicators and the prices which we expect that the gold will target Level of 1321 again.
gold daily chart
Sell the Gold around 1310 levels for targeting 1301 levels with the activation of stop loss in the case of the closure above the level of 1310.
Resistance: 1310 - 1315 - 1321
Support: 1301-1294-1286
  Direction: Up
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Oil rise as demand concerns mount and anticipation of Powell's speech

Oil prices fell on Friday to extend losses from the previous session as investors worried about slowing economic growth and growth in demand. Despite fears of a looming recession, Fed officials remain divided over whether the economy needs further rate cuts. Meanwhile, bears rely on increased US crude production to continue offsetting supply disruptions or a sudden rise in demand. Brent crude futures in the intermediate and global WTI are…

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.