Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,215.00 and reached my yesterday’s target. Anyway, according to the H4 time – frame, I have found that key support ($1,215.00) in on the test and that Gold got trouble to break it, which is a sign that selling at this stage looks risky. My advice is to watch for buying opportunities if you see a breakout of the supply trendline. The upward target is set at the price of $1,230.80. Anyway, if you see breakout of the key support, watch for further downside.
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 $1,215.00 and reached my yesterday’s target. Anyway, according to the H4 time – frame, I have found that key support ($1,215.00) in on the test and that Gold got trouble to break it, which is a sign that selling at this stage looks risky. My advice is to watch for buying opportunities if you see a breakout of the supply trendline. The upward target is set at the price of $1,230.80. Anyway, if you see breakout of the key support, watch for further downside.
The material has been provided by InstaForex Company – www.instaforex.com
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