Gold analysis – 11 Jun 2019

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Still in negative mode?

By: Ahura Chalki

While USD felt back again yesterday evening after US job report, Gold had negative, movement and closed almost $9 less than opened price, even if in the evening could recover a bit of its loss. Stock markets in the US, EU, and Asia yesterday had positive reactions to the news and closed above the opening numbers, which pushed more on Gold price, as, safe haven going to give the assets back to the trade market. For today US PPI will effect on USD and then in the Gold price as well.

From the technical side, RSI in the H1 chart moves around 50-level and there is no specific sign of bullish or bearish, while Stochastic still remains of continuing a bearish signal. $1334 and $1321 still are key resistance and support levels. 

 

Pivot point: 1329.50

Resistance levels: 1334.00 / 1342.00

Support levels: 1321.27 / 1316.77

 

 The expected trading range for today is between 1321.27 support and 1342.00 resistance.

Note

The analyses here are just an Idea and no investment consulting. Invest in the Financial market has a high level of risk. In case if you are looking for a personal investment read this PAGE

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