27.09.201916:07 Forex Analysis & Reviews: Gold 09.27.2019 - Is the Gold ready for rejection?

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 has been trading downwards in the past 24 hours. The price tested the major support cluster at the level of $1,486. Be very careful with selling since there is potential rally coming.

Yellow rectangle – Recent swing low like potential resistance

Blue horizontal lines – Support levels

Rising purple line – Expected path

MACD oscillator is showing potential bullish divergence and my advice is to watch for buying opportunities. The first upward target is set at the price of $1,501. Key support level is set at the price of $1,483. As long as the level of $1,483 is holding, watch for buying opportunities.

Back to the list

Open trading account

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.