Technical analysis:
Gold has been trading downside yesterday but I found bullish divergence in the momentum and rejection of the lower trend-line of the downside channel.
Due to the rejection of the trend-line support and upside trend, I see potential for the further rally towards upside references.
Upside objectives are set at the price of $2.000 and $2.010
MACD oscillator is showing bullish divergence and potential for the further growth.
Support level is set at the price of $1.978
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
yesterday but I found bullish divergence in the momentum and
rejection of the lower trend-line of the downside channel.
Due
to the rejection of the trend-line support and upside trend, I see
potential for the further rally towards upside references.
Upside
objectives are set at the price of $2.000 and $2.010
MACD
oscillator is showing bullish
divergence and potential for the further growth.
Support
level is set at the price of $1.978
The material has been provided by InstaForex Company – www.instaforex.com
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