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Gold Technical analysis 11 October 2018

2018-10-11 05:25 am | Resource: Technical Analysis | No Views : 52

Time frame Used - four hours
Gold is moving in a sideway direction in the near term
The purchasing power managed to control the movement of gold to penetrate the level of 1191 to upside
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of the indicators into the oversold area and the performance of the indicators is closed
  Therefore we expect that the gold will test levels of  1204-1208 again
The alternative scenario is that the  gold retreat to level of  1182
Resistance: 1191 - 1204 - 1208
Support: 1182 - 1169 - 1160
  Direction: sideway
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