Analysis of Gold for October 08, 2018
Recently, Gold has been trading downwards. The price tested the level of $1,193.00. According to the H1 time – frame, I have found that end of the upward correction (irregular type 2), which is sign that buying looks risky. I have also found a hidden bearish divergence on the MACD oscillator in the background, which is another sign of weakness. My advice is to watch for selling opportunities. The downward profit target is set at the price of $1,180.80.
Trading recommendations for today: watch for potential selling opportunities.