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Gold Technical analysis 19 June 2018

2018-06-19 12:59 am | Resource: Technical Analysis | No Views : 113

Time frame Used - four hours
Gold is moving in a bearish direction in the near term
The selling force  managed to control the movement of gold to breach the level of 1295 down to reach the level of 1275 trying to consolidate above the downtrend line
  In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
  Therefore, we expect that the gold will  target the level of 1288 again, which will breach above to target the level of 1295
The alternative scenario is that  the gold fall to levels of  1266-1254
Resistance: 1275 - 1266 - 1254
Support: 1281 - 1288 - 1295
  Direction: Down
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