Gold 01.20.2020 – Decision pivot level at the price of $1.562 is on the test, watch carefuly price action around it

Gold has been trading sideways at the price of $1.560. My analysis from last week is still valid. The price is at the critical decision level at $1.562 and you should watch carefully the price action around it.

The breakout of the $1.562 to the upside will confirm test of $1.557 and in that case you should watch on buying opportunities on the dips.

The rejection of the resistance at $1.562 would confirm rotation back towards the level of $1.535.

MACD oscillator is showing that slow line turned bearish but the reading is still above the zero.

Major resistance is set at the price of $1.562.

Support levels and downward target is set at the price of $1.535.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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