Technical analysis of Gold for October 16, 2018 888011000 110888 Gold price made a higher high the other day more detailed to our target location of $1,240. Price has actually reached the equality target relative to the very first upper hand from August lows, but as long as we hold above $1,200 I will be expecting a move to higher highs. Red lines-trading range Green lines-long-lasting bearish channel Blue Fibonacci extension-Fibonacci targets Gold price continues to trade above the bearish long-lasting channel and the trading variety it was in for more than a month. Cost is making greater highs and greater lows confirming the short-term bullish trend it remains in. Short-term assistance is at$1,208 at the upper boundary of the trading range. Resistance is at $1,236 where we find the equality target relative to the very first leg greater. A pullback towards$1,214-10 is not out of the question once we reach our very first target area.The material has been offered by InstaForex

By | October 16, 2018

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