Technical analysis:
Gold has been trading downside in the background but I found rejection fo the support this morning, which is strong sign for the further rally.
Due to the test-reject of the support and the oversold condition, I see potential for the further rally towards upside reference.
Upside objective is set at the price of $1.921
Stochastic oscillator is showing fresh bull cross and oversold condition , which is another good sign for the further upside movement.
Key support is set at the price of $1.911-$1.908
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading downside in the background but I found rejection fo the support this morning, which is strong sign for the further rally.
Due to the test-reject of the support and the oversold condition, I see potential for the further rally towards upside reference.
Upside objective is set at the price of $1.921
Stochastic oscillator is showing fresh bull cross and oversold condition , which is another good sign for the further upside movement.
Key support is set at the price of $1.911-$1.908
The material has been provided by InstaForex Company – www.instaforex.com
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