Analysis of Gold for October 27, 2023 – Symmetrical triangle pattern in creation
October 27, 2023 9:26 am
Technical analysis:
Gold has been trading sideways at the price of $1.986 and I found that symmetrical triangle pattern is in creation and that there is potential for the breakout mode.
In case of the breakout of support at $1.970m, there is the chance for the further drop towards downside objective at $1.950 and $1.940
In case of the upside breakout of the resistance at $1.995, there is the chance for the upside movement towards $2.010 and $2.020
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading sideways at the price of $1.986 and I found that symmetrical triangle pattern is in creation and that there is potential for the breakout mode.
In case of the breakout of support at $1.970m, there is the chance for the further drop towards downside objective at $1.950 and $1.940
In case of the upside breakout of the resistance at $1.995, there is the chance for the upside movement towards $2.010 and $2.020
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: