Technical analysis:
Gold has been trading sideways at the price of $1.936 and there is the chance for the further downside movement.
Due to the breakout of the support level at $1.941 and no major sign of strength, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $1.915
Stochastic oscillator is showing downside reading with no major sign for the upside rotation.
Intraday resistance is set at the price of $1.943
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading sideways
at the price of $1.936 and there is the chance for the further
downside movement.
Due
to the breakout of the support level at $1.941 and no major sign of
strength, I see potential for the further drop towards lower
reference.
Downside
objective is set at the price of $1.915
Stochastic
oscillator is showing downside
reading with no major sign for the upside
rotation.
Intraday
resistance is set at the price of $1.943
The material has been provided by InstaForex Company – www.instaforex.com
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