country flagالعربية
0

Best Opportunities, Vision and Technical Analysis for The Gold 17 April 2019

2019-04-16 11:11 pm | Resource: Technical Analysis | No Views : 379

We offer you a gold analysis denominated by US dollars on Wednesday, April 17, 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 continued to gain more losses as bears managed to push the yellow metal to see further violent decline below 1281 level to hit 1275 level, trying to maintain stability above this 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 1281-1286 levels again, and this scenario fails in case of stability above 1275 level.
The alternative scenario is that gold is dropping to 1265-1255 levels.
Big Picture
Looking at the daily chart, we see that gold has retreated below 61% Fibonacci correction, forming a negative candlestick pattern.
GOLD DAILY CHART
Recommendation
Our vision is currently neutral about the yellow metal.
Resistance: 1286 - 1294 - 1301
Support: 1281-1275-1265
  Direction: Down
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 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.