Analysis of Gold for April 10, 2019

Gold has been trading sideways at the price of $1.302.15. We are still expecting upward price and bullish continuation.

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Nothing has specially changed since our previous analysis. The ADX reading is above 30 level, which is sign of the strong bullish trend-momentum. In the background, we found the bullish flag pattern in creation, which even adds more upside potential. Support levels are seen at the price of $1.293.00 and $1.284.00. Resistance levels are seen at the price of $1.310.00, $1.316.10 and $1.322.10.

Trading recommendation: We are still holding our long position the Gold from $1.300.00 and with targets at $1.310.55 and $1.316.00. Protective stop is placed at $1.292.00.

The material has been provided by InstaForex Company - www.instaforex.com

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