On analysis of the Gold futures in different time frames, I find that the Gold futures look steady, after a strong upward move during the last three trading sessions of the previous week; and look to have an eye at the upper consolidation zone from $1216 to $1254. I find that the Gold futures may be a good buy from the lower level of the range with a Stop Loss order at $1206 for a target above $1266. No doubt that the opening level on the first trading session of the Week will play a decisive role in defining the further directional moves of the Gold futures, but a sustainable move above the level of $1242 will confirm an upward move of Gold futures. Let’s have a look at the movements of Gold futures in the following charts.
Gold Futures Daily Chart – Expected Trading Zones For The Week Of November 18th, 2018
Gold Futures 4 Hr. Chart – Expected Trading Zones For The Week Of November 18th, 2018
Gold Futures 1 Hr. Chart – Expected Trading Zones For The Week Of November 18th, 2018
Disclaimer: This analysis is only for educational purpose. Readers are requested to kindly consider their own view first, before taking any position.