Gold has been trading downwards as we expected and the price tested the level of $1.322.00. Our first downward target at the price of $1.325.00 has been reached. We also found that the support at $1.325.00, which is a sign that Gold may test the next support at $1.302.25. As long as the resistance at the price of $1.345.00 is holding, the momentum is bearish.
Trading recommendation: We are short from $1.332.00 with protective stop at $1.345.00. Our downward target is set at the price of $1.302.00.
The material has been provided by InstaForex Company - www.instaforex.com