Recently, Gold has been trading sideways at the price of $1,205.30. Anyway, according to the H1 time – frame, I found potential ending of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found the breakout of the most recent support trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of $1,201.00 and at the price of $1,192.80.
Blue line – expected price path
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, Gold has been trading sideways at the price of $1,205.30. Anyway, according to the H1 time – frame, I found potential ending of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found the breakout of the most recent support trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of $1,201.00 and at the price of $1,192.80.
Blue line – expected price path
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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