Gold price is trading below $1,900 and above key support of $1,850. Price has bounced once again after re-visiting the $1,850 support area. However this time the bounce got rejected again at the resistance. Traders better be patient and trade near key support and resistance levels.
Green rectangle – support
Red rectangle – resistance
Gold price is now trading at $1,889. Price is closer to support than resistance. Bullish positions are favored as price is closer to sell stop level. Our preferred view is to stay neutral and turn bearish when and if price breaks support at $1,850. We do not expect that price will respect the support if tested again. We expect next time we see support tested, support will fail to hold.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.