Gold october 5th 2018 analysis

Gold price action analysis

Gold october 5th 2018 analysis

Since late August, the four-hundred-ounce Gold Ounces of Gold have fluctuated between 1212.5-1189. 7. This range includes a September reopening of $ 1,200. Also, the charts of the ounce of gold represent the resistance line drawn from $ 1,214.3 and the support line drawn from the floor is $ 1160. The four-hour range below the daily supply range is 1221.22-1207. $ 5, and yesterday there is a good daily downtrend pins from this range. At the same time, it should be noted that the weekly chart is traded below the key resistance of $ 1214.4 and may be down to $ 1,150.9 (rebound in 2017).

Price action strategy

Given the status of long-term charts, entering the gold ounce purchase deal is not a good idea. Because it is in contradiction with the flow of the weekly chart. Nevertheless, on the trading side, sales could go under $ 1,200 to sell ounces of gold. The trend line for the market resistance and the high end of the neutral phase are $ 1212.5 for the golden ounces. However, it is recommended that you follow the sales signal in the charts below 4 hours before entering the sales deal.

Gold price action analysis october 5th 2018

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