Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Analysis of Gold for November 01, 2018

November 1, 2018 Analytics

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Recently, Gold has been trading sideways at the price of $1,224.20. Anyway, according to the H4 time – frame, I have found that price made a successful breakout of the well-defined resistance trendline (diagonal), which is a sign that buyers took control from the sellers. I also found the end of the downward correction (abc flat) in the background, which is another sign that buyers are in control. My advice is to watch for buying opportunities with the take profit level at $1,243.10.

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

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