Relevance up to 04:00 UTC–8
Gold has been trading downwards as I expected. The price rejected of the median Pitchfork line and is heading to test the lower diagonal of Pitchfork line and swing low at $1.547.
Watch for selling opportunities on the rallies using the intraday frames 5/15/30 minutes in order to find best entry.
MACD oscillator is showing negative reading below the zero and the slow line is turned to the downside, which is sign that sellers are in control.
Resistance levels are seen at the price of $1.568 and $1.577
Support levels and downward targets are set at the price of $1.552 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,
InstaForex Group © 2007-2020
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