Technical analysis:
Gold has been trading upside yesterday and I found that market is making higher lows and there is potential for the upside continuation today.
Due to the strong upside cycle in the background and the breakout of the inside day formation yesterday, I see potential for the further rally.
Upside objectives are set at the price of $2.011 and $2.045
MACD oscillator is showing upside reading and increase in momentum, which is good sign for the further higher prices.
Support is set at the price of $1.976
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading upside
yesterday
and I found that market is making higher lows and there is potential
for the upside continuation today.
Due
to the strong upside cycle in the background and the breakout of the
inside day formation yesterday, I see potential for the further
rally.
Upside
objectives are set at the price of $2.011
and $2.045
MACD
oscillator is showing upside reading and increase in momentum, which
is good sign for the further higher prices.
Support
is set at the price of $1.976
The material has been provided by InstaForex Company – www.instaforex.com
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