Gold october 22th 2018 analysis
After the World Gold Ounces weekly chart managed to break the key resistance of $ 1214.4, the ounces of gold continued to climb upwards, reaching $ 1233.3 a peak at $ 3. The next week’s resistance of the market is $ 1236.6, however, the main focus of the market is resistance to 1260.8 $. However, before the ounces of gold reaches $ 1236.6, the weekly chart should hit $ 1214.4 in support.
As seen in the gold ounces daily chart, the support zone 1221.22.1207.5 was touched on Wednesday trading, and Kendall formed a full ascent on Thursday. Despite Friday’s downtrend of Kundalin Gold’s daily ounces, the next resistance is at $ 1236.9, which is consistent with a weekly retracement of $ 1,236.6. On a quarter-ounce gold chart, we also see limited market fluctuations on Friday trading. As the ounce of gold did not change significantly on Thursday.
The quarterly demand zone was 1220.1-1215.6. Gold traded on the ounce market on Thursday. This demand area is located at the top of the support area at 1221.22-17.705. It can hold the market up to a key resistance of $ 1.1234 at $ 1,234. The daily resistance of $ 1236.9 is close to a 1236.6-weekly resistance.
Price action strategy
As long as the ounce of gold in the world has fallen to $ 1236.9-1234.1, the trend of the ounce of gold will also be on the upside. However, a downward trend from the current levels could push the gold standard to $ 4,220 a key gold support, which is just above the current 4-degree demand zone. Reversing the four-hour key support and creating a full-fledged 4-D Kendall can be enough to enter an ounce gold purchase deal. The trading profit margin of buying an ounce of gold, the key resistance of the four-hour period will be $ 1 in 1234.