Analysis of Gold for March 01, 2019

analytics5c791ab8a332b.png

Gold breached the 4-day balance support ($1.320.00) and on that way confirmed the direction.

The current bearish tone on Gold came from the fake breakout of the resistance at $1.325.00 in the background together with the bearish divergence on the Stochastic oscillator. Most recently, there is the breakout of the 4-day balance and the bearish momentum is present. Key support levels are seen at $1.302.15 and at $1.277.65

Trading recommendation: We exited our yesterday’s long position and we are bearish from $1.310.00 and targets at $1.302.15 and $1.277.65.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Analysis of Gold for March 01, 2019

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*