empty
 
 
08.04.2020 02:38 PM
Trading plan for Gold for April 08, 2020

This image is no longer relevant

Technical outlook:

Gold is facing strong resistance at $1,703 levels and the yellow metal is expected to stay lower. The overall structure is looking bearish until prices stay below $1,703 levels; while a break higher would test $1,750. At this point in writing Gold is seen to be trading around $1,647 levels and is expected to drop lower towards immediate support at $1,568. The recent boundary that is being worked upon is between $1,703 and $1,451 respectively. Please note that Gold has retraced up to fibonacci 88% of the earlier drop, carving a lower top around $1,675 levels. If the counter trend rally has completed, prices should reverse sharply lower towards $1,450 support and beyond. Once the counter trend line support is broken, it would confirm that a meaningful top is in place at $1,675, and that Gold could accelerate lower again. Trading point of view, Gold remains good to sell on rallies until prices stay below $1,703.

Trading plan:

Remain short @ 1,640/50, stop @ 1,703 target @ 1,450 and lower.

Good luck!

Oscar Ton,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2026
Summary
Urgency
Analytic
Oscar Ton
Start trade
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.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $9000 अधिक!
    में अप्रैल हम आकर्षित करते हैं $9000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback