Quickly reverses an early dip and finally breakthrough the recent trading range. The set-up seems tilted in favour of bullish traders and point to additional gains. Gold quickly reversed an intraday dip to 200-hour SMA and climbed two-week tops in the last hour, with bulls looking to extend the momentum beyond the top end of the recent trading range. Given that technical indicators on hourly charts maintained their bullish bias and also trying to gain traction on the daily chart, the set-up might have already shifted in favour of bullish traders. A sustained breakthrough a descending trend-line resistance, extending from early September swing highs, will reaffirm the positive outlook and lift the commodity towards the $1506 level. On the flip side, the $1491-90 region now seems to protect the immediate downside, which if broken might accelerate the slide towards $1483 intermediate support en-route the $1476 region. Gold 1-hourly chart 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 US: Markit Manufacturing PMI improved to 51.5 in October vs. 50.7 expected FX Street 3 years Quickly reverses an early dip and finally breakthrough the recent trading range. The set-up seems tilted in favour of bullish traders and point to additional gains. Gold quickly reversed an intraday dip to 200-hour SMA and climbed two-week tops in the last hour, with bulls looking to extend the momentum beyond the top end of the recent trading range. Given that technical indicators on hourly charts maintained their bullish bias and also trying to gain traction on the daily chart, the set-up might have already shifted in favour of bullish traders. A sustained breakthrough a descending trend-line resistance,… Regulated 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.
