Wednesday, October 24, 2018

GOLD - 25 October 2018


Fundamental Highlights

Gold is finding some continued buying support in early Thursday trading, lifting back into $1237 as risk sentiment takes a turn for the worse in broader markets, and the safe-haven metal is finding support from yesterday's low of $1225. That boost in the prices came after the global markets turned lower during yesterday's session in another sell off as investors are looking for shelter.

Technical Analysis

Gold prices are back on the rise to retest recent highs just below the $1240 level after finding support from the $1225 level. RSI is pointing towards a bullish momentum but we have to be careful from potential divergences. If the price succeeds to settle above the $1237 level, then the next level we will be watching is the $1244.8 level.

Support: 1224.20 1220.12
Resistance: 1228.26 1230.74

Chart (H4)