Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,197.54. According to the H1 time – frame, I found strong selling pressure and a breakout of the intraday upward trendline, which is a sign that sellers are in control. I placed Fibonacci expansion to find a potential downward target and I got Fibonacci expansion 161.8% at the price of $1,187.20. Watch for selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,197.54. According to the H1 time – frame, I found strong selling pressure and a breakout of the intraday upward trendline, which is a sign that sellers are in control. I placed Fibonacci expansion to find a potential downward target and I got Fibonacci expansion 161.8% at the price of $1,187.20. Watch for selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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