Gold october 11th 2018 analysis
Today’s analysis of the market begins the global gold ounce of the weekly chart. The gold ounce is still below the $ 1214.4 weekly resistance, and it can be expected that the ounces of gold would fall to the bottom of the year 2018 in 1160.3, and the rebound in 2017 would be $ 1150.9. Although the weekly chart shows the fall of the gold market, the daily chart between the supply region 1221.22-1207. 5 and the $ 1,183.2 support is stuck. The failure of this neutral range could push the market to $ 1160 at $ 1160 at the price of 2018. Since the beginning of October, the gold chart has stuck between two trailing line lines and a graphing pattern. Nevertheless, traders should pay $ 1191.3 and $ 1,200 for the October and September reopening rates.
Price action strategy
Given the current market prospect, it is possible to wait for a four-hour charts chart failure. The downside of this pattern and the quarterly demand region at 1180.5-1176. 2 could raise the ounces of gold to $ 1,160 for the reopening of 2018. However, as long as the chart pattern is not broken, the market will continue to fluctuate within this range, and can be traded from the ceiling and the floor of the pattern. It is recommended that you wait for a four-hour Kendall to be formed before entering the ounces of gold trading.