Technical analysis:
Gold has been trading upside and I found breakout of the triangle pattern in the background, which is good confirmation for the higher prices.
Due to the upside momentum and no signs for the reversal, I see potential for the further growth towards next upside objective.
Upside objective is set at the price of $1.948
In case of the reversal and the breakout of the support at $1.925, there is the chance for the drop towards $1.905-$1.900
RSI oscillator is showing upside trend condition with no signs for the reversal.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside and I found breakout of the triangle pattern in the background, which is good confirmation for the higher prices.
Due to the upside momentum and no signs for the reversal, I see potential for the further growth towards next upside objective.
Upside objective is set at the price of $1.948
In case of the reversal and the breakout of the support at $1.925, there is the chance for the drop towards $1.905-$1.900
RSI oscillator is showing upside trend condition with no signs for the reversal.
The material has been provided by InstaForex Company – www.instaforex.com
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