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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.

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Analysis of Gold for February 27, 2018

analytics5a952f60ee1c8.png

Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,330.70. Anyway, I found a breakout of the upper channel, which is a sign that buying looks risky. I also found an overbought condition on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,326.87 and at the price of $1,321.00.

Resistance levels:

R1: $1,340.65

R2: $1,348.05

R3: $1,355.00

Support levels:

S1: $1,326.30

S2: $1,319.30

S3: $1,311.90

Trading recommendations for today: watch for potential selling opportunities.

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