Analysis of Gold for November 01, 2018

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Recently, Gold has been trading sideways at the price of $1,224.20. Anyway, according to the H4 time – frame, I have found that price made a successful breakout of the well-defined resistance trendline (diagonal), which is a sign that buyers took control from the sellers. I also found the end of the downward correction (abc flat) in the background, which is another sign that buyers are in control. My advice is to watch for buying opportunities with the take profit level at $1,243.10.

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