Crude oil suffered heavy losses in the previous day and closed near the day low. The sudden bearish breakout turns the trend into bearish. Fortunately, no lower low printed on weekly basis, the price needs to move below $64.40 to print a lower low.
Analysis
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Spot Gold Technical Analysis October 24, 2018
We have an early celebration on the gold jump in the previous day. Unfortunately, the precious metal drifted lower before the close of the day and settled just at $1,230. It means no breakout and today the bull has trouble to break the resistance level.
GBPUSD Rallies to Exit From Sideways Movement; Bearish Outlook in Medium-Term
GBPUSD has reversed back down after the pullback on the 1.3255 resistance level, while it dipped sharply on Monday below the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2660, near 1.3066. Also, cable is holding well below the 20- and 40-simple moving averages (SMAs) which are ready to create a bearish crossover. The short-term bias seems to be neutral as the price holds within the 1.3300 resistance and the 1.2920 support over the last six weeks.
Gold Higher, Yen Outperforms as Risk Appetite Struggles
Yesterday’s broad dollar strength played out to drag on gold, but the recent mini range that has formed above the old $1217 pivot and below $1233 continues to play out. Within this range the market moves are simply noise, with the last six closes all being within $5 of each other.
Watch Dax Index Low @11240, I Told You Sell Below 11350 Enjoy Or Not – Neal Bhai Reports
Watch Dax Index Low @11240, I Told You Sell Below 11350 Enjoy Or Not – Neal Bhai Reports Dax Index Call : – Dax Index Below 11350 …
Dax Index Below 11350 Sell and Sleep – Neal Bhai Reports
Dax Index Below 11350 Sell and Sleep – Neal Bhai Reports Technical Power of CFA’s(CHARTRED FINANCE ANALYST)“No Magic, No Miracle, Just Power of Level”Neal Bhai Reports …
Gold Breaks Out of a Narrow Range, Multiple Indicators Signal Rally Ahead
Gold Silver Reports (GSR) – Previously, we did indicate that record short positions are written in COMEX in the $1,218-$1,220 range so any price movement above that zone will trigger short covering. We already witnessed short covering when gold jumped till $1,232 before retracing back to $1,220.