Recently, the Gold has been trading sideways at the price of $1,226.00. Anyway, according to the H4 time – frame, I have found potential end of the downward correction (regular flat), which is a sign that selling looks risky. The short – term trend is bullish and my advice is to watch for a potential breakout of the supply trendline ($1,232.00) to confirm further upward continuation. If you see a breakout of the supply trendline, watch for opening buy deals with the take profit at the price of $1,266.85.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the Gold has been trading sideways at the price of $1,226.00. Anyway, according to the H4 time – frame, I have found potential end of the downward correction (regular flat), which is a sign that selling looks risky. The short – term trend is bullish and my advice is to watch for a potential breakout of the supply trendline ($1,232.00) to confirm further upward continuation. If you see a breakout of the supply trendline, watch for opening buy deals with the take profit at the price of $1,266.85.
The material has been provided by InstaForex Company – www.instaforex.com
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