ads Banner
Ads Banner
ForexFunction Logo

"Forex trading involves a high level of risk"

GICM Banner
 Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points

Gold: Buy on dips (Global stock market sell- off) | November 21, 2018

Print PDF

Gold 0.07% is consolidating after hitting high of $1228.95 despite heavy selling US stock market.

The major three factors that drive gold 0.07% prices

  US dollar -0.13% Index: Strong for intraday. DXY -0.13% has gained more than 80 pips from the low of 96.04. It is currently trading around 96.82.The near term resistance is around 97.08 and any break above targets 97.40/97.70. (slight negative for gold 0.07% ).

USD/JPY: Weak . The pair is trading slightly higher for 2nd consecutive days. USDJPY 0.09% has taken support near 89 day EMA . It is currently trading around 112.88. The near term resistance is around 113.08 and any break above targets 113.50/114. Slightly negative for gold 0.07% .

 US 10 year yield : US 10 year yield is trading marginally higher and jumped more than 1.5% after a 6.5% decline from the high of 3.25%.It faces strong support around 3.07 (89- day EMA ) .Any further weakness only if it breaks convincingly below 3.07%. It is currently trading around 3.073. Slightly positive for Gold 0.07% .

 US 2 year yield: It has taken support near 89-day EMA and shown a marginal higher. The spread between US 10 year and 2 year has decreased from 30bpbs to 26bpbs.

Gold 0.07% technical

Major support $1183

Major resistance - $1240

The yellow metal has shown a minor selling after hitting high of $1228. On the higher side, major resistance is around $1226 (61.8% fib) and any convincing break above $1226 will take the commodity till $1230/$1236 .It should break above $1243 (Oct 26th 2018 high) for bullish continuation.

The near term support is around $1217 (55 day EMA ) and any violation below will drag the commodity down till $1209/$1200.

 It is good to buy on dips around $1215 with SL around $1209 for the TP of $1230.


Submit Your Comments:

 Forex Trading VPS


Email & Twitter SMS Alert | Secured & Errorless Auto Copy | Support All Broker & Account Types | Premium eBooks, Analysis & Strategy | Custom Risk Management

Plan NameBuy LinkEmail AlertTwitter
SMS Alert
Signal Auto
Copier EA
Free VPS
(1-3 Months)
Monthly Target
(Semi-Annually )
AUTO COPY Subscribe NowYes Yes Yes Yes*
(Min 3 Month Subscription)
500+ Pips $25 23$ 20$$15Via Live Support
SIGNAL ALERT Subscribe NowYes Yes No No 500+ Pips $14 12$ 9$$7No Need
CashBack View DetailsYes Yes Yes Yes 500+ PipsFree Free FreeFreeVia Support

Windows 2008/2012 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
Economy buy now2 Core 756MB 15GB 1TB $6.50/M$6.20/M$5.90/M $5.50/M MT4 Pre-InstalledYesFree
Standard buy now 2 Core 1GB 25GB 1.5TB $8.50/M$8.20/M$7.90/M $7.50/M MT4 Pre-InstalledYesFree
Premiumbuy now 2 Core 2GB 40GB 2TB $16/M$15.50/M$15/M$14.50/M MT4 Pre-InstalledYesFree
Advanced buy now4 Core 3GB 60GB 2.5TB $26/M$25/M$24/M $22/M MT4 Pre-InstalledYesFree
Professionalbuy now 4 Core 4GB 80GB 3TB $33/M $32/M$31/M$29/MMT4 Pre-InstalledYesFree
Business buy now 4 Core 6GB 100GB 4TB$46/M $45/M$44/M$42/MMT4 Pre-InstalledYesFree
Platinum buy now 4 Core 8GB 120GB 6TB $59/M $58/M$57/M$55/M MT4 Pre-InstalledYesFree
Diamond buy now 4 Core 12GB 180GB 8TB $89/M $87/M$85/M$81/MMT4 Pre-InstalledYesFree

***We accept Neteller, Skrill, MasterCard, Paypal, Payza, Perfect Money, Webmoney !