GOLD Bull Pressure Eyes Range Top At 1,211.28 Zone
Thursday, October 11, 2018
by Mohammed Isah of FXTechstrategy.com
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GOLD bull pressure eyes range top located at the 1,214.28 area. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. Conversely, resistance comes in at the 1,214.00 level where a break will clear the way for move towards the 1,220.00 level. A turn above here will expose the 1,210.00 level. Further out, resistance stands at the 1,230.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GOLD looks to strengthen further with eyes on its range top.
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About the author
Mohammed Isah is a Technical Strategist and head of research at FXTechstrategy.com, a technical research website. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXTechstrategy.com. Mohammed has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, Thestreet.com, MoneyShow, The Technical analysis of Stocks & Commodities Magazine, Businessinsider and FXstreet.com At FXTechstrategy.com he writes daily and weekly technical commentaries on currencies and commodities which are offered to its clients. He provides full coverage of the forex market with specific daily focus on 7 currencies (EURUSD, GBPUSD, USDJPY, EURGBP, EURJPY, AUDUSD and USDCAD) and the Dollar Index utilizing various technical tools and strategies. He also covers the commodities market twice in a week focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN, WHEAT and CRB Index. Mohammed can be reached via email at m.isah@fxtechstrategy.com.
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