Spot gold retests $1250 barrier (10 Dec high) on Tuesday, in extension of previous day’s rally, signaling full retracement of $1250/1232 corrective phase and possible continuation of larger uptrend from $1196 (13 Nov low).
Bulls eye key barriers just above $1250 – Fibo 61.8% of $1309/$1160 at $1252 and 200SMA at $1253, as sustained break here would generate strong bullish signal.
Fresh advance is supported by expectations of Fed’s dovish tone regarding the pace of rate hikes in 2019, as widely expected raise of interest rate on policy meeting on Wednesday, has been already priced in. (for extra money in the currency market use our forex robot)
Strong bullish momentum and daily studies in positive configuration, support scenario.
Corrective dips are expected to provide better buying opportunities while holding above rising 10SMA ($1242).
Res: 1250; 1252; 1253; 1260
Sup: 1245; 1242; 1238; 1235
Written by Admin
Install your trader software at VPS server of one of the super fast providers:
Do you want to have such profits and charts? Choose our Megastorm EA for trading in the Forex market...
Here are some of the companies making headlines in premarket trading:Goldman Sachs (GS) — Goldman ...
U.S. stock futures were flat in overnight trading on Tuesday ahead of the first batch ...
Rick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the ...