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23.05.201919:24 Forex Analysis & Reviews: Analysis of Gold for May, 23.2019

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold price has has been trading upside as we expected. The Gold tested the level of $1.287. We are still expecting more upside on the Gold.

Exchange Rates 23.05.2019 analysis

Yellow rectangle - horizontal resistance

Orange rectangle- horizontal resistance 2

Gold has been trading upside and our first target from yesterday at $1.287 is on the test. The momentum is upside and it is very risky for selling. We expect potential test of the second resistance at $1.298. Stochastic oscillator is looking stron as well, which adds more upside potential. Watch for buying opportunities.

Petar Jacimovic
Analytical expert of InstaForex
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