Recently, Gold has been trading downwards. The price tested the level of $1,203.50. According to the H1 time – frame, I have found a breakout of the key short-term support at the price of $1,211.50, which is a sign that sellers are in control. I also found an intraday bearish flag after the breakout of the support, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of $1,187.20.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, Gold has been trading downwards. The price tested the level of $1,203.50. According to the H1 time – frame, I have found a breakout of the key short-term support at the price of $1,211.50, which is a sign that sellers are in control. I also found an intraday bearish flag after the breakout of the support, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of $1,187.20.
The material has been provided by InstaForex Company – www.instaforex.com
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