Gold analysis for 02.11.2018
Gold has been moving strongly against USD and today with the US job data, the Gold bulls would be controlling the chart.
The support rests at 1232.74 with resistance at 1237.97 which both lines are above the weekly pivot point at 1230.23. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing weak buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 1240.