Technical analysis:
Gold has been trading sideways at the price of $1.997 and there is potential for the re-test of the high or breakout of the rising trend-line.
In case of the rejection of the support at $1.990, there is the potential for the rally towards $2.010
In case of the breakout of the rising trend-line and support at $1.990, there is the chance for the drop towards $1.959
RSI oscillator is showing that trend is upside and that we didn’t have major breakout of the 40 level.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading sideways at the price of $1.997 and there is potential for the re-test of the high or breakout of the rising trend-line.
In case of the rejection of the support at $1.990, there is the potential for the rally towards $2.010
In case of the breakout of the rising trend-line and support at $1.990, there is the chance for the drop towards $1.959
RSI oscillator is showing that trend is upside and that we didn’t have major breakout of the 40 level.
The material has been provided by InstaForex Company – www.instaforex.com
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