empty
 
 
12.12.2018 08:38 AM
Technical analysis for Gold for December 12, 2018

Gold price is trading inside a bullish channel. Daily trend is bullish. Gold is making higher highs and higher lows since last August and could see $1,250-60 area over the next couple of weeks.

This image is no longer relevant

Green lines - bullish channel

Blue rectangle - short-term support

With short-term support and previous short-term high at $1,230, we could see a pull back towards that area before the resumption of the up trend we are currently in. Gold bulls do not want to see price break out and below the $1,210 channel support. A bearish confirmation will come with the break of $1,196. On the other hand bulls want to see this price action of higher highs and higher lows continue. Resistance is at $1,264.

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