Technical analysis:
Gold has been trading upside today but I found potential completion of the correction, which is good sign for the further downside movement.
Due to the drop in the background and weak rally that is active, I see potential for the downside continuation towards lower references.
Downside objectives are set at the price of $1.943 and $1.937
MACD oscillator is showing weak buying power, which is another sign for the further downside continuation.
Resistance is set at the price of $1.965-$1.960
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading upside
today but I found potential completion of the correction, which is
good sign for the further downside movement.
Due
to the drop in the background and weak rally that is active, I see
potential for the downside continuation towards lower references.
Downside objectives are
set at the price of $1.943 and $1.937
MACD
oscillator is showing weak buying power, which is another sign for
the further downside continuation.
Resistance
is set at the price of $1.965-$1.960
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: