Gold prices have developed strongly in recent days, breaking back below 2,320 and the 20-day simple moving average (SMA). The momentum indicator shows a short-term negative trend, with the RSI ticking strongly downwards. MACD crosses below its trigger line and loses positive momentum. Both confirm that a downward correction could occur. With further losses, it could come into play at 2,245. A drop below the 50-day SMA, which is located near 2,222, would short-term send a bearish structure and open the way to further peaks at 2,195 and 2,145. the 2,400 level could act as a barrier before it will not be able to break the record high of 2,431.48 again. A rally above this level could push the insight back into positive values and close the level at 2,515 points. Gold prices are in the process of a potential downward step before the short-term view is pegged back to b.
Author of the link: Tm Instaforex
Please note: This information is provided to non-professional and professional clients in the context of marketing communications. It does not contain and should not be understood as investment advice or investment recommendations, nor an offer or invitation to engage in any transaction or strategy with financial instruments. Past performance is not a guarantee or a predictor of future performance.
Instant Trading EU Ltd. assumes no responsibility for the accuracy or completeness of the information provided or any loss arising from any investment based on analysis, prediction or other information. Any business decision is always only an independent and influenced decision of the client.
Warning against risks: Distribution contracts are complex tools and due to the use of financial leverage, they are associated with a high risk of rapid financial loss. In 69.82% of the retail investors, trading with installment contracts with this provider resulted in a loss. You should make sure you understand how the installment contract works and whether you can afford the high risk of losing your funds.
InstaForex is a securities trader with a long tradition, regulated by CySEC in the EU, which allows clients to trade more than 1000 investment instruments – CFDs, cryptocurrencies, ETFs, Currencies, Commodities, Indices and Shares on MT4 and MT5 platforms and Webtrader.
More information at: www.instaforex.eu/cz/
