Analysis of Gold for December 24, 2018 - ConsultFX

Analysis of Gold for December 24, 2018


Recently, the Gold has been trading upward. The price tested the level of $1,261.00. Anyway, according to the H4 time frame, I found that the price had tested the upper diagonal of the upward channel, which is a sign that the price is probably in the overbought zone. I also found that there was a hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,244.75 (median line).

The material has been provided by InstaForex Company -