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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



Gold upside reversal


Gold has found strong demand around the former low of 1,725 and jumped above the downtrend line. Passing above the downtrend line signaled that the price of gold could turn to the upside.

Technically, when the price breaks above a downtrend line, it signals that the downside movement is over and that the price could develop an upside reversal.

Gold trading conclusion

The price of gold could extend its growth after jumping above the downtrend line. XAU/USD jumped above the 1,764.66 immediate high announcing strong buyers. It could resume its growth as long as it stays above 1,751.52 today's low.

The material has been provided by InstaForex Company -