Gold october 12th 2018 analysis

The golden weekly chart shows that gold has risen to $ 1214.4 at $ 4. Assuming a weekly chart above the resistance of 1214.4 USD closes, we can expect further weekend moves to continue. The next resistance of the ounces weekly chart is $ 1260. $ 8.
On Thursday, the daily supply area of ​​1221.22-17.60 was broken at $ 5 and with the activation of the losing orders at the top of the supply area, the daily cash chart upward stood at $ 1236.9. On the charts of the gold ounce, the market lost some of the recent gains, and ended Thursday at $ 1223.5 a revet in August. Today, buyers can expect support from $ 1214.3. However, the main support for gold ounces is $ 1209.0, which is consistent with resistance line lines.

Price action strategy

The $ 1209 four-hour support could attract ounces of gold buyers. A leap from this range in the form of a 4-hour uptrend can hold the market up to 1236 9-day resistance, followed by a weekly resistance of $ 1260.8. Meanwhile, it should be noted that Resistors 1214.3, 1223.5 and 1227.4 can market vendors. That’s why if you go into the purchase of ounce gold deal with caution.

Gold october 12th 2018 analysis
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