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Gold price traded inside an $8 dollar range on Monday, without a clear direction. Medium-term trend remains bearish as price is still below the major resistance of $1,490-$1,500, while short-term trend is supported by $1,450-55.
Green lines- bearish channel
Gold price remains inside the bearish channel. Channel resistance is found at $1.490 while the lower channel boundary is at $1.410-30. The $1,450-55 area is also critical support, because if this level fails to hold, then the chances of seeing $1,410 are going rise dramatically. Breaking above $1,490 will also increase the chances of seeing 2019 highs and maybe manage to produce new ones.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
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