Gold 02.26.2020 – Pitchfork warning line 2 worked like solid resistance today, potential for the further drop increased

Gold has been trading sideways at the price of $1.644.. The Pitchfork warning line 1 acted today like resistance, which is good indication the downside rotation is possible.

Watch for selling opportunities with downward targets at $1.625 and $1.612.

MACD oscillator is showing that slow line did turn to the downside, which is another indication that we got rotation to the downside.

Resistance level is set at the price of $1.658.

Support levels and downward targets are set at the price of $1.625 and $1.612.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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