empty
You are about to be redirected to
www.instaforex.com
The services on this website better suit your location
 
 
Open Account

14.10.202109:48 Forex Analysis & Reviews: Gold challenges major trend line resistance.

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Gold managed to close above $1,770 yesterday with a strong bullish candle. Although the upside move was impressive and Gold closed close to $1,800, price is now facing an important resistance trend line that should not be ignored.

Exchange Rates 14.10.2021 analysis

Blue line - resistance trend line

Gold has resistance at $1,797-$1,800. Short-term trend is bullish as price is making higher highs and higher lows since the low at $1,721. A rejection at $1,800 would be a sign of weakness. Support remains key at $1,745-50 and as long as price is above this level, bulls have hopes for more upside. Of course a break above $1,800 if maintained, it would be an important bullish signal as well.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2021

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.