Technical analysis:
Gold has been trading downside this morning but I found that key support cluster at the price of $1.985 is on the test.
Due to the rejection of the key support cluster in the background and the short-term upside trend, I see potential for the further rally.
Upside objectives are set at the price of $2.040
MACD oscillator is showing bullish divergence, which is good sign for the further upside movement.
Support is set at the price of $1.980-$1.985
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold has
been
trading
downside
this morning but I found that key support cluster at the price of
$1.985 is on the test.
Due
to the rejection
of the key support cluster in the background and the short-term
upside trend, I see potential for the further rally.
Upside objectives are
set at the price of $2.040
MACD
oscillator is showing
bullish divergence, which is good sign for the further upside
movement.
Support
is set at the price of $1.980-$1.985
The material has been provided by InstaForex Company – www.instaforex.com
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