empty
 
 
10.10.2018 08:37 AM
Technical analysis of Gold for October 10, 2018

Gold price remains trapped inside the trading range. Gold price got back in the bearish long-term channel and continues to move sideways.

This image is no longer relevant

Green lines - bearish long-term channel

Red lines - short-term trading range

Gold price has remained inside the trading range yesterday as well. Price is very close to the lower range boundary and support is found at $1,184. If broken we expect prices to move towards $1,175-70 minimum. Resistance is at $1,193. If broken we could see another run towards $1,200. For a break out and a move towards $1,220-40 we need to break above $1,207-11. Until this happens, price is vulnerable even for new 2018 lows.

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 $1000 more!
    In April we raffle $1000 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