Forecast for Gold on March 26, 2019

Gold (Gold)

The price made a deep correction of 61.8% in the period of decline from February 20 to March 7, where it met with the MACD daily scale line. The Marlin oscillator signal line bent down a bit.

On the four-hour chart, we see a double-formed divergence with the Marlin oscillator. The transition of the signal line of the oscillator to the negative zone will be the first working signal to lower the price of gold. This transition can take place when the price reaches the level of 50.0% Fibonacci at 1313.30. The target of the mid-term decline at 1276.30 is the support formed by a three-time test in January, which we see on the daily chart.

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The material has been provided by InstaForex Company - www.instaforex.com

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