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Gold Technical analysis 24 May 2018

2018-05-24 01:43 am | Resource: Technical Analysis | No Views : 122

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 break the gold the down channel around the level of 1290 to upside where gold faces resistance around 1296 level to retreat to the bottom
  In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
  Therefore we expect that the  gold will  test levels  of 1296 -  1300-1308 By breaking 1290 level above
The alternative scenario is  that the Gold test level of   1381
Resistance: 1300 - 1308 - 1326
Support: 1288 - 1281 - 1274
  Direction: up
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