Gold october 9th 2018 analysis
Let’s start today’s analysis from the Global Gold Ounces Weekly chart. The gold ounce weekly chart is still below the $ 1214.4 key resistance, and it is possible to expect the market to fall to 2018 at $ 1160 in the $ 3 and $ 1,950 rebound in 2017. On the daily oz gold chart, the market has also responded well to the $ 1221.22-1207 range of $ 5. Nevertheless, traders need to pay $ 1,183.00 a day and a key support of $ 1157.3.
Although long-term charts are indicative of continued downward movements, the 4-hour short-term trend between the two lines is limited. Recently, the market showed a good reaction to the trend line, reaching $ 1191.3bn near the October rebound.
Price action strategy
Given the status of long-term charts, you can not buy an ounce of gold optimism. Traders should wait for the recent downtrend to fall. If the market crashes and the quarterly demand zone breaks down at 1180.5-1176. 2, it’s possible to put the price of the margin in the year 2018 at $ 1160. The $ 3 was traded in ounces of gold. Since the incomplete density pattern remains, we must wait for the definitive failure of the pattern. For this reason, it is recommended that you wait for a 4-dollar downtrend candle before you go into the gold ounce deal.