Date: 03 Oct 2018

Gold has shown the first serious rebound in a couple of weeks, jumping again above $1,200. This signals increased investors’ interest in the precious metals, which would be confirmed if bullion breaks the first resistance which is now paced at $1,210. If it does so, there could be space for further recoveries, at least up to $1,230/1,235$. From a technical point of view, we are now in a lateral phase, which would find an end only with a breakup of the resistance placed at $1,210 (or alternatively with a fall below $1,180).

 

By Carlo Alberto De Casa, Chief Analyst, ActivTrades

 

*The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication.

All information has been prepared by ActivTrades PLC (“AT”). The information does not contain a record of AT’s prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not a reliable indicator of futures performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at its own risk.