Technical analysis of Gold for July 27, 2018 888011000 110888 The Gold cost remains trapped inside the wedge pattern. The price got turned down at the $1,230-35 resistance area and is now tough short-term support at $1,220-17 location. A break below this area will open the way for a push lower to $1,200-$1,180. A break above $1,235 will break the ice for a move to $1,245-50. Black lines – downward sloping wedge pattern Blue line- RSI resistance Red line- bullish divergence RSI Support The Gold rate might make a new low towards$ 1,207 where the lower wedge pattern border is discovered. The $1,200 -$1,205 area is the next crucial assistance. Far pattern stays bearish as we see rate making lower lows and lower highs. Only a break above$1,235 will alter this. The bullish divergence justifies that it is time for a strong bounce but does not guarantee it. We have to break the blue RSI resistance and the$1,235 level first.The product has actually been offered by InstaForex Company -www.instaforex.com

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