Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Gold faces some pressure
2019-11-11 • Updated
SELL 1239.80; TP1 1237.90; TP2 1233; SL 1242
BUY 1246; TP1 1250; SL 1244
Gold is correcting down after its previous advance. The metal is now trading below October high at 1243.35.
It looks like the correction may take XAU/USD down to the 200-week MA at 1233. A decline below 1238 will open the way down to this level.
An advance above 1245.60 is necessary to open the way up to the recent high at 1250 and the 200-day MA at 1254.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
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