FX.co - Analysis of Gold for May 12,.2021 - First target at the price of $1.826 has been reached. Second target set at $1.807

2021-05-12T13:43:18

Relevance until2021-05-13

Analysis of Gold for May 12,.2021 - First target at the price of $1.826 has been reached. Second target set at $1.807

Technical analysis:

Analysis of Gold for May 12,.2021 - First target at the price of $1.826 has been reached. Second target set at $1.807

Gold has been trading downwards as I expected yesterday. Gold has reached thet first downside target at $1.826 and there is potential for test of the second target at $1.807.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside targets at $1.807 and $1.800.

Stochastic is showing negative reading without extreme, which is good sign for downside continuation.

Key resistance is set at $1.843

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

#Technical analysis #USD #Gold #Commodity

Analytical expert

Petar Jacimovic

InstaFintech Group @ 2007-2025

FX.co ★ Analysis of Gold for May 12,.2021 - First target at the price of $1.826 has been reached. Second target set at $1.807

Forex Analysis

Analysis of Gold for May 12,.2021 - First target at the price of $1.826 has been reached. Second target set at $1.807