Technical analysis:
Gold has been trading upside this morning and I found potential for the end of the upside correction and start of the downside continuation.
Due to the downside condition in the background and potential extreme upside reading this morning, I see potential for the further drop
Downside objectives are set at the price of $1.892 and $1.889
Stochastic oscillator is showing fresh bear cross and oversold condition, which is good sign for the further downside movement.
Resistance level is set at the price of 1.0885
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading upside
this morning and I found potential for the
end of the upside correction and start of the downside continuation.
Due
to the downside condition in the background and potential extreme
upside reading this morning, I see potential for the further drop
Downside objectives are
set at the price of $1.892
and $1.889
Stochastic oscillator is showing fresh bear cross and oversold condition, which
is good sign for the further downside movement.
Resistance
level is set at the price of 1.0885
The material has been provided by InstaForex Company – www.instaforex.com
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