Analysis of Gold for March 26, 2019

Gold has been trading downwards. The price tested the level of $1.312.00 We expect downside movement.

analytics5c9a424508f6c.png

Gold did breakout of the 5-day upward trendline, which acted like support for days. This is a sign that buyers lost the interest in the Gold and that sellers started the distribution process. We do expect potential test of the short-term support at $1.303.15 and then potently the testing of $1.298.90 and $1.293.00. Key short-term resistance is set at the price of $1.323.70.

Trading recommendation: We exited long position and started to sell Gold from $1.314.20 with targets at $1.303.15, $1.298.90 and $1.293.00. Protective stop is placed at $1.324.00.

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

2 comments:

  1. It's a nice article, Which you have shared here about the gold trading. Your article is very informative and useful to know more about the latest information about the gold market. If anyone looking to Sell Gold For Cash in malaysia, Easygoldtrading is a good choice.

    ReplyDelete
  2. I am very proud to say that your blog has had such useful information about forex news and acceptable content. A knowledgeable blog you have shared. Latest Share Market News Online Australia.Please keep sharing.

    ReplyDelete