Technical analysis:
Gold has been trading downside this morning and I found that sellers are in control and that there is strong downside momentum.
Due to the strong downside momentum and lower highs and lower lows in the background, I see potetnial for the further drop towards lower references.
Downside objectives are set at $1.944 and $1.935
Stochastic oscillator is showing overbought condition and fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $1.982
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
this morning and I found that sellers are in control and that there
is strong downside momentum.
Due
to the strong downside momentum and lower highs and lower lows in the
background, I see potetnial for the further drop towards lower
references.
Downside
objectives
are set at $1.944 and $1.935
Stochastic
oscillator is showing overbought condition and
fresh downside cross, which is another good sign for the further
downside movement.
Key
resistance is set at the price of $1.982
The material has been provided by InstaForex Company – www.instaforex.com
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