Gold 02.06.2020 – Multi pivot resistance at the pice of $1.570 on the test, watch the price action around it to confirm futher

By | February 6, 2020
InstaForex
Gold 02.06.2020 - Multi pivot resistance at the pice of $1

Relevance up to 07:00 2020-02-07 UTC–8

Technical analysis:

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Gold has been trading upwards. The price almost tested important multi swing resistance at $1.570. Watch for selling opportunities and potential rotation down towards the level of $1.547.

MACD is showing positive reading above the zero and the slow line is trying to turn into the upside.

Major resistances are set at the price of $1.570 and $1.592

Support levels are seen at the price of $1.562 and $1.547

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2020

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