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: 198132, member: 29339"] [B]Gold Price and Crude Oil Price Show Bearish Signs[/B] [IMG]https://i.postimg.cc/m2bqx9Vx/Gold-price-oil-price-2.jpg[/IMG] [B][I]Gold price started a fresh decline from well above $1,825. Crude oil price is also declining and it broke the main $70.00 support zone.[/I] Important Takeaways for Gold and Oil[/B] [LIST] [*] [*]Gold price failed to clear the $1,830 level and it started a fresh decline against the US Dollar. [*]There was a break below a major bullish trend line with support near $1,815 on the hourly chart of gold. [*]Crude oil price also started a fresh decline from well above the $72.00 zone. [*]There is a connecting bearish trend line forming with resistance near $69.25 on the hourly chart of XTI/USD. [/LIST] [B]Gold Price Technical Analysis[/B] This week, gold price failed once again to clear the $1,830 resistance against the US Dollar. The price traded as high as $1,831 on FXOpen before it started a fresh decline. There was a break below the $1,820 and $1,810 support levels. The price even broke the $1,805 support and the 50 hourly simple moving average. Besides, there was a break below a major bullish trend line with support near $1,815 on the hourly chart of gold. [IMG]https://i.postimg.cc/RC18bd7Q/gold-price-chart.png[/IMG] The price spiked below $1,800 before the bulls appeared. The price is now consolidating losses, with an immediate resistance near the $1,810 level. The first key resistance is near the $1,810 level and the 50 hourly simple moving average. It is near the 38.2% Fib retracement level of the downward move from the $1,831 high to $1,797 low. The main resistance is near the $1,815 level. A close above $1,815 could set the pace for a larger increase. An initial support on the downside is near the $1,795 level. The first major support is near the $1,785 level. If there is a downside break, the price could test the $1,750 support in the near term. [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…