Analysis of Gold for October 09, 2018

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Recently, Gold has been trading downwards. The price tested the level of $1.182.50. According to the H4time – frame, I found a broken support trendline, which is a sign of weakness. I also found that price is trading inside of the downward channel, which is another sign of weakness. Watch for selling opportunities. The downward take profit levels are set at the price of $1,180.00 and at the price of $1,175.65.

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