Technical analysis:
Gold has been trading downside on Friday and today but I see potential for the upside movement towards Pitchfork median line.
Due to the mid and long term upside trend and the oversold condition, I see potential for the upside movement towards the mean.
Upside objective is set at the price of $1.960-$1.965
Stochastic oscillator is showing bullish divergence and oversold condition, which is good sign for the further upside movement.
Key support cluster is set at $1.940
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
on
Friday and today but I see potential for the upside movement towards
Pitchfork median line.
Due
to the mid and long term upside trend and the oversold condition, I
see potential for the upside movement towards the mean.
Upside
objective is set at the price of $1.960-$1.965
Stochastic oscillator is showing bullish divergence and oversold condition,
which is good sign for the further upside movement.
Key
support cluster is set at $1.940
The material has been provided by InstaForex Company – www.instaforex.com
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