Technical analysis:
Gold has been trading downside this morning and the market failed to break and hold below swing low at $1.860.
Trading recommendation:
Due to failed breakout of the support at $1.860 in the background and the longer term upside trend, I see potential for the upside movement.
Watch for the potential buying opportunities on the intraday dips with the upside objective at $1.890 and $1.900.
MACD oscillator is showing bullish divergence, which is another sign for the upside movement.
Key support is set at the price of $1.860
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading
downside this morning and the market failed to break and hold below
swing low at $1.860.
Trading
recommendation:
Due
to failed breakout of the support at $1.860 in the background and the
longer term upside trend, I see potential for the upside movement.
Watch
for the potential buying
opportunities on the intraday dips with the upside objective at
$1.890 and $1.900.
MACD
oscillator is showing bullish
divergence, which is another sign for the upside movement.
Key
support is set at the price of $1.860
The material has been provided by InstaForex Company – www.instaforex.com
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