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Gold has been trading sideways in the past 24 hours at the price of $1.512. My analysis from last week is still valid. Gold is approaching important multi pivot resistance level at $1.517-$1.520. This level is go-no go level and you should watch careful the price action around it.
Breakout of the resistance will lead us for potential test of $1.535 and buying opportunities would be preferable on the dips.
Rejection of the resistance may lead us for potential re-test of the $1.496. To confirm potential rejection you would need any kind of topping pattern near the resistance.
MACD is showing increased momentum on the upside and buyers in control today.
Bollinger band – Middle Bollinger line is set at $1.506 (support)¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.