Gold violates support – Is it after $1,190? - Forex News by FX Leaders

Gold violates support – Is it after $1,190?

Posted Monday, September 10, 2018 by
Arslan Butt • 1 min read

What’s up, traders.

Taking a quick look on the hourly chart, gold has violated the intraday support level of $1,194 which can lead its prices towards $1,190. In order to catch the move, we decided to jump in and share a sell trading signal below $1,194.50 to target $1,190.50.

The RSI is supporting a selling trend along with the 50 – periods EMA. As you can see on the FX Leaders signal page, gold trade is making like 20 pips. Investors are advised to move their stops at breakeven points and keep following us for more updates!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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