empty
 
 
19.04.2019 03:55 PM
Analysis of Gold for April 19, 2019

Gold has been trading upwards in past 10 hours. The price tested the level of $1.276.50. We expect potential upward movement in our opinion selling looks extremely risky.

This image is no longer relevant

According to the H1 time-frame on the Gold CFD we found that there is the bullish divergence on the 3/10 oscillator, which is sign that sellers losing their power and buyers react. Key resistance levels are seen at the price of $1.282.10 and at $1.289.40. Key support level is seen at the price of $1.270.9.

Situation on the futures market:

This image is no longer relevant

On the futures market we found massive selling climax (excessive volume and range of the bar) in the background, which is strong sign of the strength and big warning for sellers. The climatic bar on the 2H time-frame got 115k contracts traded versus average 20k, which signaled us big difference. The next few bars after the climatic bar were with the narrow range and very high volume but we got high effort with no result, which is another sign of potential strength incoming. Finally, after the decline the downward channel got broken and the buyers did start to buy and accumulate their positions in our opinion. Our advice is to watch for buying opportunities with targets at $1.282.00 and $1.290.00.

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 $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