empty
 
 
04.12.2018 08:37 AM
Technical analysis for Gold for December 4, 2018

Gold price has broken through short-term resistance and is now looking for a move higher towards $1,250-60 if the major resistance and October highs are broken. So far price action has respected support levels and bulls remain in control.

This image is no longer relevant

Blue rectangle -major resistance

Green line -trend line support

Gold price has held above the critical short-term trend line support and has started making higher highs and higher lows again. Price is now testing the 38% long-term Fibonacci level and October highs. Breaking above this level opens the way for a move towards the 61.8% Fibonacci retracement but our first targets are at $1,250-60. Support is now found at $1,216-20 area and as long as price is above that level, bulls will remain in control of the trend.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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 $6000 more!
    In December we raffle $6000 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
  • 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