Technical analysis:
Gold has been trading downside as I expected and the price has reached downside objective at $1.900. Anyway, I see potential for the further drop.
Due to the downside momentum and the downside trend, I see potential for the further drop towards next reference point.
Downside objective is set at the price of $1.885
RSI oscillator is showing downtrend condition with no evidence for the pullback.
Key resistance is set at the price of $1.903
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside as
I expected and the price has reached downside objective at $1.900.
Anyway, I see potential for the further drop.
Due
to the downside momentum and the downside trend, I see potential for
the further drop towards next reference point.
Downside
objective is
set at the price of $1.885
RSI
oscillator is showing downtrend condition with no evidence for the pullback.
Key
resistance is set at the price of $1.903
The material has been provided by InstaForex Company – www.instaforex.com
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