empty
 
 
12.04.2019 03:40 PM
Analysis of Gold for April 12, 2019

Gold has been trading sideways at the price of $1.291.00 in past 16 hours. We still expecting downward movement.

This image is no longer relevant

According to the H4 time-frame, we found that there is the breakout of the bearish flag pattern in the background, which is sign that selling may continue. There is the breakout of the support trendline in the background, which adds even more weakness on the Gold. Key support level is seen at the price of $1.281.00. Key short-term resistance is set at $1.310.00.

Trading recommendation: We sold Gold from $1.290.80 with the target at $1.281.10. Protective stop is placed above the $1.310.50.

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