Forex Trading Library

Gold 2018-06-28

Technical Analysis

By Rami Abu-Draa Last updated Oct 31, 2021

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

Gold still holding downtrend pressure with slowly movement as market closing from Mid-Run support 1236-41

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

	Support	Resistance
Level 1	1236-41	1255
Level 2	1220	1262
Level 3	1180	1273

Gold

Rami Abu-Draa

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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