Trading Conditions
Products
Tools
Gold price is bouncing again off the key support of $1,850. Price made a low this week at $1,852 and is now trading at $1,872. Support has held once again. No sell signal given. Bulls need to break above $1,900-$1,906 resistance in order to challenge $1,950.
Red rectangles- resistance levels
Green rectangle- key support
Gold price continues to trade sideways.For a bearish signal price must break below the green rectangle and stay below it. First obstacle for bulls is at $1,906. Breaking above it will push price towards the next major resistance at $1,950. We prefer to be neutral at current levels or open small long positions near support levels and small short positions near resistance levels.
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.