Technical analysis:
Gold has been trading upside this morning but I found that intraday resistance at the price of $1.872-$1.875 is on the test.
Due to the strong downside trend in the background and morning rally, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $1.858
RSI oscillator is showing negative reversal, which is good sign for the further drop
Intraday resistance area is set at $1.872-$1.875
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading
upside this morning but I found that intraday resistance at the
price of $1.872-$1.875 is on the test.
Due
to the strong downside trend in the background and morning rally, I
see potential for the further drop towards lower reference.
Downside
objective is set at the price of $1.858
RSI
oscillator is showing negative
reversal, which is good sign for the further drop
Intraday
resistance area is set at $1.872-$1.875
The material has been provided by InstaForex Company – www.instaforex.com
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