GOLD

Market Opportunities - 18/04/2019

18 April, 2019

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

GOLD an uptrend opportunity based On 1.00 Lot Calculation:

During recent sessions, Gold prices were trading lower. Progress in US-China trade negotiations along with positive economic data from China pushed the demand for safe haven instruments down. However, gold is approaching level 1,270.00, which recently proves to be a strong support level. In fact, the daily chart suggests that Stochastic oscillator and Money Flow Index are deep in the oversell area, which could imply a trend reversal.

First quarter U.S. earning season started last week. Current estimates suggest that results in the first quarter 2019 could be the weakest since 2016. If mentioned estimation proves to be true, that could possibly increase demand for save heaven instruments.

GOLD, April 18, 2019
Pivot point: 1272.00

GOLD

Weekly

Trend Direction

UP

PIVOT POINTS

Resistance 3

1312.00

Resistance 2

1302.00

Resistance 1

1292.00

Support 1

1257.00

Support 2

1247.00

Support 3

1237.00

Example of calculation base on weekly trend direction for 1.00 Lot*

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $

4000

3000

2000

-1500

-2500

-3500

Profit or loss Short in €

3514

2636

1757

-1318

-2196

-3075

Profit or loss Short in £

3168

2376

1584

-1188

-1980

-2772

* 1.00 lot is equivalent of 100 ounce
** Calculations for exchange rate used as of 08:57GMT+1 18/04/2019
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** Please consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more details.

Share It With Your Network
GOLD Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.