Recently, Gold has been trading sideways at the price of $1,225.00. According to the H4 time – frame, I have found the breakout of key resistance trendline in the background and potential end of the downward correction (abc flat), which is a sign that selling looks risky. I have also found confirmed inverted head and shoulders pattern (bullish), which is another sign of the strength. My advice is to watch for buying opportunities. The upward projected upward target is set at the price of $1,265.60.
The material has been provided by InstaForex Company -
www.instaforex.com