Gold has been trading upwards but it found strong resistance at the price of $1.545. My advice is to watch for selling opportunities with the downward targets at the price of $1.535 and $1.531.
Gold is still trading in the bearish trend and most recently I found rejection of the middle Bollinger band, which is sign that there is more downside yet to come.
MACD oscillator is showing neutral stance and slow is trying to turn bearish.
Major resistance level is set at the price of $1.545
Support levels and downward targets are set at the price of $1.536 and $1.531.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.