Forex Trading Library

Gold 2018-07-09

Technical Analysis

By رامي أبو دراع Last updated Nov 15, 2021

As we advised before and as we see over our previous chart

Gold managed last week to test 1236-41 support zone before the first rebound correction hit the market

As long as market keep trading above this support a chance for a rebound correction toward 1280-85 and 1302-05 may hitthe market

Below 1236 Gold may enter new downtrend wave that may reach 1110 zone

Intraday Trading levels may have chance for a trading zone between 1236 and 1273 in the comming days

	Support	Resistance
Level 1	1260	1373-75
Level 2	1250	1380-85
Level 3	1236	1300-05

Gold

رامي أبو دراع

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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