Gold price broke out and above the downward sloping trend line resistance. This week started on a negative note but as long as price is above $1,890 we remain optimistic for next few weeks.


Red line -resistance

Blue line -support

Since the bottom in mid-September, price is making higher highs and higher lows. Support is at $1,890-$1,900. Holding above this level is key for bulls. If price breaks below this level we expect Gold to reach $1,860-$1,800. Next resistance level Gold bulls need to overcome is at $1,965-75.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.