Technical analysis:
Gold has been trading downside as I expected. Gold is heading towards my main downside target at the price of $1.797.
Trading recommendation:
Watch for potential selling opportunities on the rallies with the target at $1.797.
Additionally, there is the breakout of the consolidation, which is another sign of the weakness.
Stochastic is showing negative reading, which is good confirmation for the downside movement.
Key resistance is set at $1.843
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading downside as I expected. Gold is heading towards my main downside target at the price of $1.797.
Trading recommendation:
Watch for potential selling opportunities on the rallies with the target at $1.797.
Additionally, there is the breakout of the consolidation, which is another sign of the weakness.
Stochastic is showing negative reading, which is good confirmation for the downside movement.
Key resistance is set at $1.843
The material has been provided by InstaForex Company – www.instaforex.com
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