Forex Trading Library

Gold 2018-08-06

Technical Analysis

By رامي أبو دراع Last updated Oct 31, 2021

As we advised in the last 2 weeks and as we see over our previous chart

Gold also managed to rebound aftre trumps tweet on rate hike where Gold managed to re-test resistance 1236-37 zone

Short-Run outlook see main resistance at 1245 where as long as Gold maintain trades below the downtrend wave is on go toward 1100 target

above 1245 the Intraday levels may give farther advance where another resistance laying t 1266

	Support	Resistance
Level 1	1205	1213
Level 2	1195	1220
Level 3	1180	1236

analysis_en 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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