empty
 
 
15.04.2019 09:17 AM
Technical analysis for Gold for April 15, 2019

Gold price remains below $1,300 as bulls were unable last week to show signs of strength. The last line of defense for bulls is found at $1,290-80 support area and if this level is broken we could see another sell off in Gold that will bring price towards $1,250 or lower.

This image is no longer relevant

Black line - important resistance trend line

Green rectangle - support area

Red rectangle - target area if support fails to hold

Red lines - triangle pattern target

Gold price is challenging important support levels. Another bounce towards the black trend line is not out of the question but bulls will need more than that. Bulls will need to break above the black trend line resistance now at $1,308 in order to hope for a bigger move higher. On the other hand bears seem to be in control of the trend, they just only need to break below support at $1,280-90. This will most probably push price towards $1,250 and maybe lower towards $1,225-15 area.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback