empty
 
 
12.10.2018 02:58 PM
Analysis of Gold for October 12, 2018

This image is no longer relevant

Recently, Gold has been trading upwards with the strong momentum. The price tested the level of $1,225.90. According to the H1 time – frame, I found the breakout of the 30-day bullish flag (bullish pattern) in the background, which is a sign that buyers are in control. I also found the end of the downward correction (regular flat), which is a strong sign of strength. Most recently, I have found a breakout of the intraday bullish flag, which is a good sign to establish long positions. The upward take profit levels are set at the price of $1,233.85 and at the price of $1,266.00.

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