Technical analysis:
Gold has been trading downside as I expected and I see potetnial for the further drop towards next downside reference.
Due to the strong downside cycle and no signs for the reversal, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $1.808
RSI oscillator is showing downside trend and no signs for the reversal, which is good sign for the further drop.
Key resistance is set at the price of $1.883
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading
downside as I expected and I see potetnial for the further drop
towards next downside reference.
Due
to the strong downside cycle and no signs for the reversal, I see
potential for the further drop towards lower reference.
Downside
objective
is set at the price of $1.808
RSI
oscillator is showing downside
trend and no signs for the reversal, which is good sign for the
further drop.
Key
resistance is set at the price of $1.883
The material has been provided by InstaForex Company – www.instaforex.com
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