Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,180.30 and reached my both yesterday's targets. According to the H1 time – frame, I found potential exhausted sellers and hidden bullish divergence on the MACD oscillator, which is a sign that selling at this stage looks risky. I also found supply trendline at the price of $1,185.00 and my advice is to watch for a potential breakout of the trendline to confirm a further upward movement. If you see the breakout, watch for buying opportunities with the upward targets at the price of $1,190.00 and at the price of $1,200.15.
The material has been provided by InstaForex Company -
www.instaforex.com