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Analysis of Gold for February 21, 2019

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The Gold market went into the overbought condition at the price of $1.346.00, which is a sign that buying looks risky. In our view, downward correction is the potential scenario to happen on Gold. Support is seen at the price of $1.325.00 and again at $1.302.00. Key short-term resistance is set at $1.346.00.

Trading recommendation: We exited our long position on Gold on the breakeven and now we are neutral to bearish.

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