empty
 
 
12.03.2020 05:07 PM
Analysis for Gold 03.12.2020 - Massive drop on the Gold and both our targets got reached at $1.5854, still room for more downside and tst of $1.546

Technical analysis:

This image is no longer relevant

Gold did drop strongly as I expected yesterday. The price reached and broke ourr downside target at $1.610 and $1.585. Anyway, due to very strong momentum to the downside, I would still watch for selling opporrtuntiies on the rallies.

Next downwrad targets are set at the porice of $1.563 and $1.546.

MACD oscillator is showing new momentum to the downside, which is strong confirmation for the strong supply.

Stochastic is in oversold zone...

Resitance level is now set at the prrice of 1.630

Support levels and next downward targets are set at the price of $1.563 and $1.546.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback