empty
 
 
09.12.2019 10:48 PM
Directionless start of the week for Gold price

Gold price traded inside an $8 dollar range on Monday, without a clear direction. Medium-term trend remains bearish as price is still below the major resistance of $1,490-$1,500, while short-term trend is supported by $1,450-55.

This image is no longer relevant

Green lines- bearish channel

Gold price remains inside the bearish channel. Channel resistance is found at $1.490 while the lower channel boundary is at $1.410-30. The $1,450-55 area is also critical support, because if this level fails to hold, then the chances of seeing $1,410 are going rise dramatically. Breaking above $1,490 will also increase the chances of seeing 2019 highs and maybe manage to produce new ones.

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