Gold 01.22.2020 – Rejection of the major pivot resistance at the prrice of $1.562 in the background, selling opportunities

Gold has been trading sideways at the price of $1.555 but with the strong rejection of the resistance in the background at $1.562. I expect further downside movement towards the support at $1.536.

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 negative reading below the zero and 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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