Corona virus news:
Technical analysis:
Gold has been trading upwards. The price tested and rejected from my strong resistance level at $1.555. In my opinion, the upwad correction has been completed (ABC) and potential fo the downside continuaiton is present.
Watch for selling opportunities on the rallies using the intraday frames like 15/30 minutes. That will enable you better entry location.
Downward targets are set at the price of $1.450 and $1.400
Stochastic oscillator is showing new bear cross, which is of the potential bear continuation
Resitance level is set at hte price of $1.555
Support levels and downward targets are set at the price of 1$1.450 and $1.400.
The material has been provided by InstaForex Company – www.instaforex.com
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