country flagالعربية

Best Opportunities, Vision and Technical Analysis for The Gold 12 April 2019

2019-04-12 01:32 am | Resource: Technical Analysis | No Views : 338

We offer you a gold analysis denominated by US dollars on Friday, April 12, 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 bearish direction in the near term.
gold chart
Gold ended yesterday's trading session on a heavy decline to lose a large part of its gains during the evening trade as the selling force managed to push the yellow metal to witness further decline to reach the level of 1293 trying to consolidate the highest level.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area.
  Therefore, we expect that gold will test 1301 level again, and this scenario fails in case of  instability level of 1293.
The alternative scenario is that gold drop to 1286-1281 levels.
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
Buy the Gold around 129301 levels for targeting 1301 levels with the activation of stop loss in the case of the closure below the level of 1293.
Resistance: 1310 - 1315 - 1321
Support: 1301-1294-1286
  Direction: Up
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Gold metal declined as the dollar stabilized and global stocks fell

Gold fell Friday to record a one-week low as the dollar stabilized, as the British parliament's vote on a draft Brexit deal reached by the United Kingdom and the European Union. The stability of the dollar and the decline of global stocks Global stocks fell on Friday after China posted its weakest quarterly economic growth rate in three decades, underscoring investor concern about trade-related slowdowns in major markets around 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 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.