Gold (XAU) Technical Take

30 November 2017 / Research Notes Posted by: Bryan Stewart

Over the past several months, there has been good support on the pullbacks with the market continuing to put in higher highs and higher lows, with the 2017 high up around $1357/ounce. If this price range continues we could see a small pullback to around $1280/ounce, the next higher low in favour of a bullish continuation towards $1350/ounce or the 2016 high of $1375/ounce.

Fig. Gold, daily (Source: GT247.com)

Trade: Gold(XAU)

Entry Long (Buy): $1284/ounce
Stop Loss: $1275/ounce
TP1: $1309/ounce
TP2: $1333/ounce

Support & Resistance Levels:

Disclaimer: Trading CFDs (leveraged products) is high risk and losses could exceed your initial capital input. Please ensure you fully understand the risks with trading CFDs before considering this form of trading. See full terms and conditions HERE.

GT247 (Pty) Ltd t/a GT247.com is a licensed over-the-counter derivatives provider duly authorised by the Financial Sector Conduct Authority of South Africa. All trades on the GT247.com trading platform are subject to the legal terms and conditions to which you agree to be bound. Any material shared/displayed on this website does not constitute financial advice. Should you require financial advice, please consult your financial planner.

The information on the GT247.com website is not directed at residents outside of South Africa and is not intended for distribution to or use by any person in any particular country or jurisdiction where such distribution or use would be contrary to local laws or regulations. GT247.com does not market its services to persons that reside outside of South Africa.

Resources