2018 Gold Spot: USD Technical Snapshot And Trading Levels
Abhishek M R | Dec 25, 2017 07:04AM ET
Opinion, Levels, Range Published is a yearly view
Upside Pivot: 1330
Downside Pivot: 1165
Trading Levels, Risk Range: Support & Best buy level 1218 - 1221, Resistance capped at 1271 - 1276, a break above 1330 further upside targets are 1444 - 1449, Extension targets 1498 - 1504. However, on downside, if the prices break & violate pivot 1165 then downside target Risk capped at 1050 - 1045 - 992
Our Preference: Long Positions above 1330 for targets 1444 -1449 & 1498 in extension with stop loss at 1315
Alternative Scenario: Below 1270 watch for 1221 level, if breached 1218 short positions can be added for targets 1050 - 1045 extension 992
Comment: The CCI commodity channel Index & the Stochastic oscillator is indicating a bullish momentum supported by emerging CandleStick Pattern "The Morning Star" which is a very bullish pattern & an early indicator of price direction
Gold- XAU/USD Current Price 1275
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