Technical analysis:
Gold has been trading downside today and I found that there is important pivot zone around $1.961-$1.954.
In case of the potential rejection of the support zone, there is the chance for the upside movement towards $2.000
In case of the downside breakout and hold below support zone, there is the chance for the further drop towards $1.918
RSI oscillator is showing reading below the 40, which is sign that trend condition is turning into bearish..
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading downside today and I found that there is important pivot zone around $1.961-$1.954.
In case of the potential rejection of the support zone, there is the chance for the upside movement towards $2.000
In case of the downside breakout and hold below support zone, there is the chance for the further drop towards $1.918
RSI oscillator is showing reading below the 40, which is sign that trend condition is turning into bearish..
The material has been provided by InstaForex Company – www.instaforex.com
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