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Gold is going down again
Friday, February 27, 2015 3:57
% of readers think this story is Fact. Add your two cents.
Trend is bearish in 1 hour time frame. The intraday resistance could be seen at the price level of 1236.83 price level. Yesterday, the price of XAU/USD tried to rise and then fall which looks like start of a weak bearish trend. As long as the flow of market remains down, I am interested to take selling trading opportunities. If bullish candlestick closes above 1236.83 critical resistance level then down trend is going to end. Hence, I might like to quit trading XAU/USD and redo the 1 hour chart analysis.
Source: http://www.fxinstructor.com/blog/gold-is-going-down-again-2
I find nothing unexpected in this as Gold was always looking at down slide but now the question is whether it will continue or go for the correction or probably switch in trend. Whatever the case is I always feel secured with OctaFX broker’s latest option of Rebate as there I earn up to 15 USD per lot size and even if I lose the trade still I get it so that makes it so much better for me work with them.