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Old 20-01-2017, 13:57
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading sideways at the price of $1,203.00. In the 4H time frame and using the Ichimoku cloud, I found that there is potential space for a downward correction. I found cross Tenkan sen-Kijun sen which is a sign for potential weakness and it is weak sell signal on 4H time frame. Anyway, according to the 1H time frame, I found that price has broken the Ichimoku cloud for downside, which is also a sign of weakness. Pay attention on downward levels at $1,195.85 and $1,178.55. Watch for potential selling opportunities.

Trading recommendations for today:
Watch for selling opportunities.




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