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Gold prices extended the gains from the low of $1,750.77 made on June 29 and touched the high of $1,832.77 in the month of July. The August series started on a subdued note while swinging back and forth in the narrow trade range of $1,800 and $1,830.
The ascending trendline from the low of ascending trendline acts as a defensive for the bulls. A break of the bullish sloping line would intensify the selling pressure in the gold prices.
The Moving Average Convergence Divergence (MACD) remains neutral near the midline. A downtick in the MACD indicator would confirm the downside momentum. A sustained break below the $1,800 would make the journey toward the south for the prices.
¡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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