Gold 07.31.2019 – Broken important pivot at $1.430

Gold did trade higher exactly how I alerted you few days ago. The key pivot at the price of $1.430 is broken and there is a chance for larger up move. Pat attention to the important resistance levels at $1.441 and $1.453..

Technical picture:

Blur rectangle – Resistance 1 ($1.441)

Upper red line – Resistance 2 ($1.453)

Key pivot – $1.430

On the 4H time-frame I found that MACD oscillator got a flip up and that slow line is going higher, which is good sign for the further upside continuation. Stochastic got a fresh UP cross above the 80 level, which is indication of the strength on the Gold. My advice is to watch for buying opportunities with the targets at $1.441 and $1.453. Don’t forget, it is a FOMC day so pay attention on your risk control.

The material has been provided by InstaForex Company –

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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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