Recently, Gold has been trading sideways at the price of $1,292.90. According to the H1 time – frame, I have found rejection from the upper Keltner band, which is a sign that Gold might be in the overbought condition. I also found the hidden bearish divergence on the LBR oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of $1,287.20 and at the price of $1,280.00.
The material has been provided by InstaForex Company -
www.instaforex.com