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15.01.201915:20 Forex Analysis & Reviews: Analysis of Gold for January 15, 2019

Long-term review

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Recently, Gold has been trading sideways at the price of $1,289.00. According to the H1 time – frame, I have found a broken intraday bearish flag in the background, which is a sign that sellers are in control. I also found that there is hidden bearish divergence on the MACD oscillator and that a potential test of the support at $1,285.00 will be the key for a further direction. My advice is to watch for selling opportunities but if you see that Gold reaches the key support, secure your position on the breakeven. The breakout of the support would confirm potential testing of the $1,275.00.

Trading recommendations for today: watch for potential selling opportunities.

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