Analysis of Gold for August 08, 2018
Recently, the Gold has been trading sideways at the price of $1,211.15. According to the M30 time – frame, I found broken upward trendline, which is a sign that sellers are in control. I also found the rejection of the resistance 1 and hidden bearish divergence on the stochastic oscillator, which is a sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,207.00 and at the price of $1,202.65.
Trading recommendations for today: watch for potential selling opportunities.