Recently, Gold has been trading upwards. The price tested the level of $1,249.00. According to the H4 time – frame, I found that there is the breakout of the bullish flag pattern (bullish), which is a sign that buyers are in control. I also found the successful rejection of the support (lower diagonal of the rising channel) at the price of $1,234.00 and the breakout of the 16-hour balance, which is another sign of the strength. My advice is to watch for buying opportunities. The upward target is set at the price of $1,266.70.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, Gold has been trading upwards. The price tested the level of $1,249.00. According to the H4 time – frame, I found that there is the breakout of the bullish flag pattern (bullish), which is a sign that buyers are in control. I also found the successful rejection of the support (lower diagonal of the rising channel) at the price of $1,234.00 and the breakout of the 16-hour balance, which is another sign of the strength. My advice is to watch for buying opportunities. The upward target is set at the price of $1,266.70.
The material has been provided by InstaForex Company – www.instaforex.com
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