Gold

[buildmoney]

Technical analysis of Gold is bullish

Resistance and Supporting levels is :

Resistance level is

1> Resistance level is:1285.21
2> Resistance level is: 1287.35
3> Resistance level is: 1289.48


Supporting level is

1> Supporting level is: 1281.33
2> Supporting level is: 1279.54
3> Supporting level is: 1277.25

[FM1881]

In addition the data uncertainty bailout Spain as well as U.S. economic data showing a rise in outside estimates also reduce the attractiveness of gold.

Most hedge funds and money managers have added to their gold positions to its highest level in 14 months, supported by gold's appeal as a hedge against inflation, amid expectations that the Fed and other central banks will keep pumping stimulus to stimulate growth.

However, data on U.S. consumer sentiment successful beyond estimation has added economic signals in the U.S. are beginning to improve, so the shrinking interest hedge against gold.

Separately, China's export data reports that more than doubled compared to expectations during the month of September also showed that the pace of the previous government's policy was sufficiently successful that additional stimulus measures may not have been too predictable.

[FM1881]

For short term trader in gold there is a good technical today because if we look the chart in the picture above, gold go to up after touched monthly support level 2 yesterday in american session.

In asian market today ma 16 had crossed up ma 96 .It can indicate that the price will go up, below trend analysis today with ma system:
ma 16 as short term trend indicator= up
ma 96 as medium term trend indicator= sideways
ma 480 as long term trend indicator = down
So the trend is up weak short term

I predict the price will go up again until weekly support 2 area 1601.57

If looking mreinstein stochastic signal tf h1 & h4 in overbought area now, so before up again ,gold price may down then retrace up

[FM1881]

For short term trader in gold there is a good technical today because if we look the chart in the picture above, gold go to up after touched monthly support level 2 yesterday in american session.

In asian market today ma 16 had crossed up ma 96 .It can indicate that the price will go up, below trend analysis today with ma system:
ma 16 as short term trend indicator= up
ma 96 as medium term trend indicator= sideways
ma 480 as long term trend indicator = down
So the trend is up weak short term

I predict the price will go up again until weekly support 2 area 1601.57

If looking mreinstein stochastic signal tf h1 & h4 in overbought area now, so before up again ,gold price may down then retrace up.

[may78655]

The price of gold continues to fluctuate at 1286.78 while Stochastic is providing negative signals on the four-hour time frame, while the pair is expected to resume the expected bearish trend for today, targeting 1262.50 as a next stop, while stability below 1286.70 is important.

[FM1881]

he precious metal remains overbought, we probably won�t see a correction until the relative strength index falls back below 70, and the technical outlook for the bullion remains fairly bullish as it trades within an upward trend channel

[gale]

Gold moved on the good bearish movement on the last Friday.
Now, Gold is moving near the 1740.05 support level. If Gold can break this support, I think Gold will continue falling today and may reaches the lower support level at around 1719.66. But if Gold fail to break this support, Gold may reverse around here and go up to the 1759.04 resistance level.

[WaqasQais]

Today's market technical analysis for gold

price 1281

market trend is going bearish
market have good trading position for the sell traders
market resistance and support levels could as

1-Resistance level = 1290
2-Resistance level = 1301
3-Resistance level = 1310

1-Support level = 1271
2-Support level = 1264
3-Support level = 1253

[302]

The trading range for today is among the key support at 1530.00 and key resistance now at 1638.00.

The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.



Recommendation : Based on the charts and explanations above our opinion is selling gold around 1594.00, targeting 1579.00, 1552.00 and 1530.00 and stop loss with 4-hour closing above 1624.00 might be appropriate.

[billyboy00007]

Gold turned bullish in August last year, after it had failed to break the $1300 level o on the monthly chart at the beginning of 2018. It climbed up close to $1,300. Now trend is come down to down and it is coming down.