Gold ounce november 28th 2018 analysis
Yesterday, the US dollar was strengthened against all competitors, and as a result we saw a sharp rise in sales pressures per ounce of gold. Gold has an inverse relationship with the US dollar. The gold support for the four ounces of gold at $ 1217.7 averaged resistance, and even the ounce of gold fell to $ 1211.6 at the bottom.
Reversing the price of ounces of gold under a broken support could bring new vendors to the market and ounces of gold would drop at $ 1209 a barrel at $ 440. Though this possible downside may create short-term sales opportunities, it is likely that gold bearish movements will continue to under $ 1209. Resistance of $ 1217.7 with a resistance of 38.2% Fibonacci at 1217.8 and a 50% Fibonacci Resistance in 1218.5.
Price action strategy
If the four-hour currencies hit below $ 1217.7 and a full-fledged downtrend would occur, the $ 1,209 deal could be put into a gold ounce deal.