Gold 01.21.2020 – Strong rejection frrom our pivot level on the Gold at the price of $1.562, watch for selling opportunities

Gold has been trading upwards. The price tested and rejected of my critical resistance at $1.562, which is strong sign of selling power. I expect further downside movement and potential test of $1.535.

Due to strong rejection of our critical pivot level at $1.562, watch for selling opportunities on the rallies using the lower fames 5/15 minutes.

MACD oscillator is showing positive reading but the slow line is tuned to the downside.

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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