GCMAsia - GOLD
GOLD_
2017-10-12
| Resistance and Support | Level | Explanation |
| Resistance | 1295.55 | H4 |
| Support | 1278.25 | H4 |
GOLD_, H4: Gold price was traded higher after breaking above resistance level at 1278.25. Formation of engulfing candlestick suggests bullish momentum still taking over but diminishing due to downward slope of MACD histogram. A breakout above the resistance level at 1295.55 is required for gold price to gain greater momentum to increase its gains.
Resistance level: 1295.55, 1306.50
Support level: 1278.25, 1260.60