Gold october 18th 2018 analysis

Yesterday, with the massive growth of the US dollar in the Forex market, we saw a drop in the price of gold in the world. On the global gold ounce weekly chart, we see a downtrend of the market at $ 1233, which can go on a weekly support of $ 1214.4. The next bullish target for the weekly chart is 1236.6 dollars, but the main target will be 1260. 8 dollar resistance. On the daily gold ounce chart, the market is at the top of the supportive area of ​​1221. Given the successive downtrend slowness of the golden ounce chart, it can not be said with certainty that the supportive area of ​​the ounces of gold could have a resistance of 1236.9 USD per day.
However, on a quarter-ounce gold ounce chart, the market has crossed the rebound in August at $ 1,223.5. As a result, the next target market is $ 1214.3 and $ 1209.

Read more about Best forex broker to trade gold and other precious metals.

Price action strategy

Entering a purchase deal with a four-month support of $ 1,214.3 and $ 1,209 could be a good idea. These two supporters are placed within the daily support area. It is recommended that you wait for a quarter-high ascend centigrade before you go into the purchase of an ounce of gold.

gold october 18th 2018 analysis


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