Gold 12.06.2019 – Gold is near multi-pivot supporrt at $1.57, more downside yet to come

Gold has been trading downside after the NFP news today. In my opinion, it confirmed another down cycle and eventual test of $1.452 and $1.446. My advice is to watch for selling opportunities on the rallies on lower frames (5-15 time-frames).

MACD oscillator is showing increase on the downside momentum, which is good sign that sellers are in control and that selling on the rallies is preferable strategy for today.

Resistance levels are seen at $1.471 and $1.480.

Support levels are set at $1.452 and $1.446

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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