Gold october 8th 2018 analysis
Despite the fact that the ounces of gold rose in the last week’s trading session, the weekly chart of gold ounces remains below the key resistance of $ 1214.4. For this reason, it can still be expected that the ounce of gold would fall to $ 1150 at $ 1150 by 2017. In the daily ounces of gold chart, daily price movements indicate a market reaction to the 1221-21207 supply range of $ 5. On a daily chart, the golden ounce downside path is $ 1,183.2 and the key support is $ 1157.3.
Since August, goldsmiths have been fluctuating between 1212.5-1189. In this range, the September reopening was at $ 1,200, the reopening of October was $ 1,191.3, the resistance line drawn from the peak of 1214.3, and the support line line drawn from the floor of $ 1160.0.
Price action strategy
Given the status of long-term charts, entering an ounce gold deal can not be a very good idea. However, the four-hour resistance line and the neutral phase ceiling could be traded at $ 1212.5 per ounce.