country flagالعربية

Gold Technical analysis 2 January 2019

2019-01-02 05:56 am | Resource: Technical Analysis | No Views : 123

Time frame Used - four hours
Gold is moving in a bullish direction in the near term.
The purchasing power managed to control the movement of gold to penetrate the resistance level around the level of 1279 above.
  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 the gold will target levels of 1285-1292, and this scenario fails in case of unable stability above level of 1279.
The alternative scenario is that the gold dropped to levels of 1266-1264.
Sell Gold around the 1279 levels for targeting levels of 1285 - 1292, with the activation of stop loss in the case of closure below the level of 1279.
Resistance: 1285 - 1292 - 1298
Support: 1279 - 1266 - 1264
  Direction: Up
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Oil prices rise as supply falls

Oil prices rose sharply on Tuesday, bolstered by Venezuela's political turmoil, which threatens further supplies to the country. Where fears of a possible recession have eased. Investors expect that supplies will continue to be cut through the rest of 2019. OPEC and its allies plan to hold the next Joint Ministerial Monitoring Committee meeting on May 19 in Jeddah, Reuters reported. OPEC and other countries, including Russia, have agreed to…

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.