Technical analysis:
Gold has been trading upside this morning and I see test of the important resistance level at $1.904.
In case of the breakout of the resistance to the upside and hold above, there is the chance for higher price and test of $1.910-$1.920
In case of the rejection of the resistance, I see potential for the further downside rotation towards $1.890
Additionally, I found breakout of the downside channel, which is good sign for the upside scenario..
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside this morning and I see test of the important resistance level at $1.904.
In case of the breakout of the resistance to the upside and hold above, there is the chance for higher price and test of $1.910-$1.920
In case of the rejection of the resistance, I see potential for the further downside rotation towards $1.890
Additionally, I found breakout of the downside channel, which is good sign for the upside scenario..
The material has been provided by InstaForex Company – www.instaforex.com
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