GOLD Looks To Build Up On Its Corrective Pressure

[AlpariMox1]

GOLD: Having halted its broader weakness on a long-tailed candle formation on Thursday, GOLD looks to build up on its corrective pressure. While the commodity holds and trades above the 1046.30 level, recovery threat is expected. On the upside, resistance resides at the 1070.00 level where a break will aim at the 1080.00 level. A turn above there will expose the 1090.00 level. Further out, resistance stands at the 1100.00 level. On the downside, support comes in at the 1050.00 level where a break will turn attention to the 1040.00 level. Further down, a cut through here will open the door for a move lower towards the 1030.00 level. Below here if seen could trigger further downside pressure targeting the 1020.00 level. All in all, GOLD looks to build up on its corrective pressure triggered from 1046.30.

[AlexHales]

It is very important that we analysis things properly when it comes to trading on Gold, as it is sort of thing that could trouble us big time, so need to watch it extremely wisely. I am working under OctaFX and with them; it is quite pleasing to work in every way. I operate on their ECN account where I get over 70 instruments to pick from that count for currency pairs, commodities and indices, there is also 24/5 support to help us!

[RumanRaees]

Hales, I agree it is important that we know what we are doing because it is something that can make big difference. As per broker, I haven’t heard about this Octafx, so no clue how they are. It is also important that we make right selection when it comes to brokers.

[AlexHales]

Hales, I agree it is important that we know what we are doing because it is something that can make big difference. As per broker, I haven’t heard about this Octafx, so no clue how they are. It is also important that we make right selection when it comes to brokers.

I don’t think it is anything surprising, as there are many traders who are starting up, so maybe you might have not done proper research, as OctaFX is arguably the finest out there. They are licensed by FCA and have excellent market reputation winning over 20 awards including the Best International Broker award as well; it is absolutely pleasure trading under them. I just enjoy it in every way and keep me extremely relaxed and comfortable with the work that I am doing.