Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Market Analysis By FXOpen
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Resolve, post: 197493, member: 29339"] [B]Gold Price Could Extend Gains While Crude Oil Price Corrects Lower[/B] [IMG]https://i.postimg.cc/kGvQXPst/gold-price.jpg[/IMG] [B][I]Gold price started a decent recovery wave above the $1,820 resistance. Crude oil price is declining and it might even break the $70.00 support zone.[/I] Important Takeaways for Gold and Oil[/B] [LIST] [*] [*]Gold price started a fresh recovery wave after forming a base above $1,790 against the US Dollar. [*]There is a key bullish trend line forming with support near $1,825 on the hourly chart of gold. [*]Crude oil price failed to settle above $75.000 and it started a fresh decline. [*]There was a break below a major bullish trend line with support near $74.55 on the hourly chart of XTI/USD. [/LIST] [B]Gold Price Technical Analysis[/B] This week, gold price formed a decent support base above the $1,790 zone against the US Dollar. The price started a fresh upward move and it surpassed the $1,800 resistance zone. The price even settled above the $1,810 level and the 50 hourly simple moving average. The price even broke the $1,820 resistance and it traded as high as $1,833 on FXOpen. Recently, there was a minor downside correction below the $1,830 level. [IMG]https://i.postimg.cc/7P3MNS4Y/gold-price-chart-1.png[/IMG] The price even traded below the 23.6% Fib retracement level of the upward move from the $1,791 low to $1,833 high. However, the bulls are protecting the $1,820 support. There is also a key bullish trend line forming with support near $1,825 on the hourly chart of gold. The 50 hourly SMA is also near the trend line. If there is a downside break, the price could test the $1,810 support. An intermediate support could be the 50% Fib retracement level of the upward move from the $1,791 low to $1,833 high at $1,812. An immediate resistance on the upside is near the $1,832 level. The first major resistance is near the $1,835 level. If the price breaks the $1,835 level, it could accelerate higher. In the stated case, the price could rise towards the $1,850 zone. [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…