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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



Analysis of Gold for April 30, 2019

Gold traded higher in past 24h period as we expected and level of $1.278 provided great support. We expect further upward movement and potential test of upper references.


Yellow rectangle – Short-term resistance, which became key support

Blue moving average – 20EMA acting like support

Green rectangle – Resistance based on price action

Green rectangle – Resistance 2 based on price action

Green rectangle – Resistance 3 based on price action

Gold did successful rejection of the key support at the price of $1.278, which is good sign for further upward price. Our advice is to watch for buying opportunities. Upward references are set at the price of $1.294.30, $1.300.95 and $1.310.00. As long as the Gold is trading above the $1.265.00, the short term-trend remains bullish. Medium Keltner average (20EMA) is acting like support together with rising ADX reading, which adds more potential for upside.

The material has been provided by InstaForex Company -