29.04.201916:01 Forex Analysis & Reviews: Analysis of Gold for April 29, 2019

Long-term review

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Gold traded lower in past 24h period but it is on critical support at $1.279.00 and selling at the support looks very risky. We are expecting further upside and potential test of the upward references.

Yellow rectangle – Short-term resistance, which became key support

Green rectangle – Resistance based on price action

Green rectangle – Resistance 2 based on price action

Green rectangle – Resistance 3 based on price action

Gold is testing the key support at $1.278.00. Our advice is to watch for buying opportunities. Upward references are set at the price of $1.294.30, $1.300.95 and $1.310.00. As long as the Gold is trading above the $1.265.00, the short term-trend remains bullish. Medium Keltner average (20EMA) is acting like support, which adds more potential for upside.

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