Gold october 24th 2018 analysis
In reports on Monday and Tuesday, the World Gold Ounces Price Option was quoted as saying that the price of gold was below the four-hour key support of $ 1220, $ 3 as a signal to buy gold ounces. Yesterday, the ounces of gold raised a strong uptrend back, reaching the target high of October 19 (1230.8) and a key resistance of $ 1 in 1234. Even the ounces of gold came close to the 4-hour supply range in 1245-12-12340.
The four-hour key support in 1220 $ 3 was strengthened by the quarterly demand region at 1220.1-1215.6, and the support area was supported daily by 1221.22-17.207. Meanwhile, the weekly resistance of $ 1214.4 was broken and backed up, and the weekly ounces of gold showed up from a market upside of 1236.9 dollars.
Price action strategy
It is possible to see a decline in the price of gold ounces in today’s trading session this week. Not only was the ounce of gold close to the 12-month high 1245.-1240. 3 range supply, but also a 1236.6 weekly resistance and a daily resistance of $ 1236.9 a touch. That’s why the current 4 hrs supply could be followed by an ounce gold deal. The first profit margin for selling ounces of gold, the daily support support ceiling will be $ 1,221.2. You can enter a gold ounce deal starting at $ 1240.3 and set a stop loss above 1245.0 or wait for a 4-dollar downtrend before you enter the sales deal.