Gold bear trend is on hold for the fifth week in a row as the market is grinding higher. The 50, 100 and 200-period simple moving averages are coiled together while Gold is in consolidation mode. The RSI, MACD and Stochastics indicators are bullish as buyers consider the consolidation phase as a bull flag while the market holds above 1,189.49 (September 4 low). Nothing indicates that the bullish momentum should abate anytime soon. Bulls target might be located near 1,225.90 (July 17 low). A break below 1,189.49 (September 4 low) should invalidate the bullish bias. Gold 4-hour chart Spot rate: 1,207.50 Relative change: 0.29% High: 1,208.45 Low: 1,201.34 Trend: Bearish Short-term trend: Bullish above 1,182.90 Resistance 1: 1,211.17 July 19 low Resistance 2: 1,214.30 August 28 high Resistance 3: 1,217.89-1,220.90 zone, August 6 high and July 18 low Resistance 4: 1,225.90 July 17 lowResistance 5: 1,237.60 July 3 swing low Support 1: 1,204.10, August 3 swing low (key level) Support 2: 1,194.30 March 10, 2017 low Support 3: 1,189.49 September 4 low Support 4: 1,172.82 current 2018 low Support 5: 1,145.20 March, 1 2017 low FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD touches new 10-week highs, approaches 1.18 FX Street 3 years Gold bear trend is on hold for the fifth week in a row as the market is grinding higher. The 50, 100 and 200-period simple moving averages are coiled together while Gold is in consolidation mode. The RSI, MACD and Stochastics indicators are bullish as buyers consider the consolidation phase as a bull flag while the market holds above 1,189.49 (September 4 low). Nothing indicates that the bullish momentum should abate anytime soon. Bulls target might be located near 1,225.90 (July 17 low). A break below 1,189.49 (September 4 low) should invalidate the bullish bias. Gold 4-hour chart … Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
