Technical analysis:
Gold has been trading upside this morning but I found test of the key resistance zone at $1.920 and potential for the further downside movement.
Due to the short-term downside trend and the test of of the key resistance, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.902 and $1.886
RSI oscillator is showing hidden bearish divergence in creation, which is sign that we might see further downside movement.
Key resistance is set at the price of $1.920
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside this morning but I found test of the key resistance zone at $1.920 and potential for the further downside movement.
Due to the short-term downside trend and the test of of the key resistance, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.902 and $1.886
RSI oscillator is showing hidden bearish divergence in creation, which is sign that we might see further downside movement.
Key resistance is set at the price of $1.920
The material has been provided by InstaForex Company – www.instaforex.com
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