Recently, Gold has been trading downwards. The price tested the level of $1 193.95. According to the H1 time – frame, I found the breakout of the bearish flag (the end of an upward correction abc flat), which is a sign that sellers are in control. Most recently I found that a breakout of the intraday upward trendline, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of $1,190.40 and at the price of $1,187.50.
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 downwards. The price tested the level of $1 193.95. According to the H1 time – frame, I found the breakout of the bearish flag (the end of an upward correction abc flat), which is a sign that sellers are in control. Most recently I found that a breakout of the intraday upward trendline, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of $1,190.40 and at the price of $1,187.50.
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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