Permanecer 
Condições de Negociações
Ferramentas
Gold price has broken the bearish flag formation we showed yesterday and has given a new bearish signal. Gold price is vulnerable to a move towards $1,400 and lower. Gold bulls remain in control of short-term trend as long as price holds $1,400.
Black line - short-term resistance (broken)
Red line - short-term support
Red rectangle - key support short-term area
Blue rectangle -target if support fails to hold
Gold price is challenging the red rectangle area and the red upward sloping trend line. Breaking below this trend line will open the way for a move towards $1,350-60. Gold price is vulnerable to the downside. Resistance is at $1,430 for the short-term. Recapturing this level will increase the chances for a new higher high. So far Gold price since the beginning of July is making higher highs and higher lows. This confirms bulls are in control. This will change only with the break of the red trend line. So traders should keep a close eye on the $1,400-$1,415 area.
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.
