Recently, Gold has been trading sideways at the price of $1,198.00. According to the H1 time – frame, I found that upward correction potentially ended near the level of $1,203.60, which is a sign that buying looks risky. I also found the breakout of the upward trendline, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,191.80 and at the price of $1,187.55.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, Gold has been trading sideways at the price of $1,198.00. According to the H1 time – frame, I found that upward correction potentially ended near the level of $1,203.60, which is a sign that buying looks risky. I also found the breakout of the upward trendline, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,191.80 and at the price of $1,187.55.
The material has been provided by InstaForex Company – www.instaforex.com
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