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Farooq

Technical Analysis – Gold _ 13-02-2019

HomeTechnical AnalysisTechnical Analysis – Gold _ 13-02-2019
13
Feb
Technical Analysis – Gold _ 13-02-2019

The price of gold is clearly supported from the 1309-1298 area supported by a rising trend line as seen on the daily chart … The RSI is still within the bullish momentum and Stochastic points to a positive cross …

The upside potential remains valid as long as the trades remain above the mentioned trend line to keep the targets around 1326 resistance as the first target, which could increase the gains of gold to reach 1345 as the second target and then the resistance 1365 as the third target.

A breach of the bullish trend line might be enough to end the upside potential, and the price could then head for the 1276 support as the first target and then the 1250 support as the second target

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