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30.10.201812:55 Forex Analysis & Reviews: Analysis of Gold for October 30, 2018

Long-term review

Exchange Rates 30.10.2018 analysis

Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,219.15. According to the Daily time – frame, I have found weakness in the background and a broken support trendline, which is a sign that sellers are in control. I have also found a hidden bearish divergence on the RSI oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward take profit levels are set at the price of $1,215.60 and at the price of $1,207.95.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaForex
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