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  #261  
Old 12-01-2018, 16:24
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, gold has been trading upwards. The price tested the level of $1,333.15. According to the 4H time frame, I found a broken 7-day rectangle, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward projcted targets for the rectangle pattern are set at $1,341.00 and $1,348.00.

Trading recommendations for today:
watch for potential buying opportunities.




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  #262  
Old 17-01-2018, 17:40
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, Gold has been trading sideways at the price of $1,337.00. According to the 30M time - frame, I found that price rejected of the pivot support at $1,332.00, which is a sign that selling looks risky. I also found positive readings on MACD oscillator, which is another sign of strength. Short-term trend is still bullish. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,343.15 and at the price of $1,347.80.

Trading recommendations for today:
watch for potential buying opportunities.




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  #263  
Old 23-01-2018, 15:15
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, the Gold has been trading upwards. As I expected, the price tested the level of $1,388.00. According to the 30M time – frame, I found potential bearish pennant pattern in creation, which is a sign of potential weakness. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities if you see the breakout of the support trendline. The downward targets are set at the price of $1,332.00 and at the price of $1,320.79.

Trading recommendations for today: watch for potential selling opportunities.




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