Gold 01.31.2020 – Gold is trading near the imporrtant pivot level at $1.588, watch for the price action around it to confirm

Gold has been trading sideways at the price of $1.582. The price is near the critical decision level at $1.588 and you should watch carefully the price action around it.

The breakout of the $1.588 to the upside will confirm test of 1$1.611 and in that case you should watch on buying opportunities on the dips.

The rejection of the critical pivot resistance at $1.588 would confirm rotation back towards the level of $1.570, $1.564 and $1.545.

MACD oscillator is showing neutral stance

Major resistance is set at the price of $1.588

Support levels are seen at the price of $1.570, $1.64 and $1.545.

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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