Technical Analysis XAUUSD - Uniglobe Markets

Technical Analysis XAUUSD

Posted on February 9, 2018 at 05:47 AM

The price of gold dropped, forming a bearish candlestick after a breach of 1320.00 was achieved and stability below the mentioned level is considered a loot. But at the same time, we will need to see a break of 1300.00 to prove the negative extension.

There are signs of weakness appearing on both the ADX and RSI, and these signals may be supportive of the downside potential. But at the same time, we confirm that the negativity requires break the 1300.00 level, from the top, trading back above 1317.00 will be an order that weakens the downside potential.

Price Trend: Down with a break of 1310.00 targeting 1300.00 and 1295.00 as long as 1317.00 is intact

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