Technical analysis of Gold for October 12, 2018 888011000 110888 Gold price finally broke out above the trading variety its remained in for at least a month. This breakout is a bullish sign and we could see costs move greater towards $1,240-60 over the coming weeks. Red lines-trading variety(damaged)Green lines -long-lasting bearish channel Gold rate has broken above the trading variety. Assistance is now at previous resistance at $1,211. Next support is at$ 1,184. We might see a pull back towards $1,215-13 but the advantage ought to continue next week. Our first target of$1,220 has been reached. Holding above$1,210 could ope the way for our next target at$1,240-50. Resistance is at yesterday’s highs. Breaking this resistance level will increase the possibilities of reaching our second target area.The material has actually been provided by InstaForex

By | October 12, 2018

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