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Gold Technical Analysis: A New Attempt to Break Resistance 1238.00

2 Nov 2018 04:51 PM

The price of gold fell yesterday, but stops going down with levels close to the 1208.00 support, and because of the break, we may see some bullishness today. However, it may be important to see the price steady above 1222.00 to keep the upside intraday.

From the bottom, a break of 1208.00 would negate any upside potential and bring the price back down.

From here, we think it might be good to buy gold above 1220.00 with the expectation of a profit in two stages at 1230.00 and 1235.00 and stop loss below 1211.00.

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