country flagالعربية

Gold Technical analysis 27 December 2018

2018-12-26 11:34 pm | Resource: Technical Analysis | No Views : 73

Time frame Used - four hours
Gold is moving in a bullish direction in the near term.
The purchasing power managed to regain control of the gold movement to penetrate the gold resistance level of 1266 to reach the level of 1279 where it encountered resistance and selling pressure around this level to fall back to the support level of 1266 and also touches the Sub-section uptrend line.
 In view of the technical indicators
Both the RSI and the Stochastic are indicating to a lack of signals.
 Therefore, we expect that the gold will rebound to level of 1279 again, which by breaking it above will target the levels of 1285-1292, and this scenario will fail if gold breaks level of  1264 down.
The alternative scenario is that the gold broke level of 1264 down to drop the gold to levels of 1253 - 1250.
Buy the gold around the 1266 levels for targeting level of 1279, with the activation of stop loss in the case of closure below the level of 1264.
Resistance: 1279 - 1285 - 1292
Support: 1264 - 1253 - 1241
Resistance: 1266 - 1275 - 1285
Support: 1250-1241-1234
  Direction: Up
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Gold declined at the end of weekly trading

Gold prices rallied after a period of fluctuation amid rumors after reports that US Treasury Secretary Steve Menochon might suggest easing or eliminating import tariffs on Chinese goods. China also confirmed on Thursday that Vice Premier Liu Hu will visit Washington from Jan. 30 to 31 as part of ongoing trade talks between the two countries.  Late last year, the United States and China agreed to halt new measures on…

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.