Technical analysis:
Gold has been trading downside this morning but I saw that key support cluster at $1.970 is on the test and that there is potential for the rally.
Due to the upside cycle in the background and bullish momentum divergence, I see potential for the upside movement towards upside references.
Upside objectives are set at the price of $1.992 and $2.000
MACD oscillator is showing bullish divergence, which is good sign for the further rally.
Key support is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
this morning but I saw that key support cluster at $1.970 is on the
test and that there is potential for the rally.
Due
to the upside
cycle in the background and bullish momentum divergence, I see
potential for the upside movement towards upside references.
Upside
objectives are set at the price of $1.992 and $2.000
MACD
oscillator is showing bullish
divergence, which is good sign for the further rally.
Key
support is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: