Commodities

End of day analysis for Gold 23-10-2018

2018-10-23 18:47:47 GMT (Economies.com)

Gold price succeeded to touch our first waited target at 1238.30 and shows some bearish bias to retest the previously breached resistance of the bullish pennant, and the price needs to lean on the support line formed above the breached resistance to keep rising in the upcoming period, noting that breaching 1238.30 will push the price towards 1262.50 as a next main station, while breaking 1220.00 will push the price to test 1208.40 level initially.

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