Gold - D1 Our expectations:
Long trend. The price is making new highs. Movement in the price channel, a short-term correction is giving an opportunity to add long positions. The price has reached a support zone and is heading north again.
Price action: 2 equal tials - price can not break down - extremely strong long signal.
Fundamental: In anticipation of a positive progress of the trade tensions between US and China, investors underestimate hiding risk in emerging tension between Pakistan and India, if the conflict escalates, will undoubtedly send Gold and other safe haven assets to new highs.
Indicators:
Price above 50 and 200SMA, MAs in a bull formation.
DeMarker, on neutral territory.
SL: $ 1295 Under the previous bottom, under a psychological barrier and under basic diagonal and dynamic support.
Alternative Scenario: Breaking the price below $ 1295 would mean a breakthrough key support and deeper drowning.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.