Analysis of Gold for May 15, 2019

Gold has been trading upwards in pat 12 hours as we expected. The price tested the level of $1.299. We are still expecting upside.

According to the H4 time-frame, we found that there is the breakout of the bullish flag and the rejection of the 20EMA, which is sign for the potential upside continuation. There is also a rising momentum on the MACD oscillator, which is another sign of the potential strength. Watch for buying opportunities with the target at $1.310.

Upward references are set:

Previous day high – $1.303

Daily swing high – $1.310

Downward references are set:

Swing low – $1.292

Resistance became support – $1.288

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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