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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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Petar Jacimovic,
InstaForex Group © 2007-2020
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