GOLD: short-term goal has not been reached
On the last week pair continued to tumble to oversold territory. Intersection STD1 with STH4 happened, as well as is fixing price below 0/8 (1250.00). This is enough to talk about further reducing to the level -1/8 (1234.38). Reducing STD1 also indicates a decrease. The unlikely breakdown of the level 0/8 will lead to an increase to the area of merger STD1 with level 1/8 (1265.63). Nevertheless, the achievement of the nearest bearish target at the -1/8 is better.
Sell – 1244.00; sl – 1251.00; tp – 1235.00.