Gold hit its 4200 target today, setting up a critical trading range between 4100 support and 4220 resistance.
Gold managed to meet the target of 4200 early today.
As we see from the chart, prices are facing a trading zone between support 4100 and resistance 4200-20.
Above 4220 more advance toward 4300 will be expected.
Below 4100 more of a drop toward 4030 could hit the market.
SUPPORT | RESISTANCE | |
LEVEL1 | 4145 | 4200-20 |
LEVEL2 | 4100 | 4300-10 |
LEVEL3 | 4030 | 4380 |
Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). Orbex LIMITED is licensed to provide Investment Services (Reception & Transmission, Execution and Dealing on own account) and Ancillary Services.
Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, the level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Comments
Log in or sign up to join the conversation.