Thursday, October 11, 2018

Analysis of gold before closing Friday, 12 October 2018


Gold proved strong against the Dollar that has strong support at 1180 levels. It has supported gold several times during this month in which the Dollar index has moved to try to break through important resistance to confirm the rally at 98, but gold has managed to maintain the strong support level at 1180
Gold moved within a narrow range from 1179 to 1210 during the last period, we did not see any falls or leaps but very tight trading
The tight trades are always an indicator of the imminent proximity of a sharp move up or down. We expect gold to wait for some of the data to start targeting 1235, which is directly towards 1350, which is considered a break for the clear trailing position since 2015, to be far away as we try to reach the 1400 levels which represent A very important psychological level will continue to hover around it for a month or more before breaking to test 1200 or continue to rush towards the 1500 summit, which will occur in the event of the global economy of great concerns either due to declines in indicators or political fears
In any case, gold is now within the levels of buying that we may not experience long before

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