Analysis of Gold for January 08, 2019

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Recently, Gold has been trading downwards as I expected. The price tested the level of $1,281.00. According to the H1 time – frame, I have found that price breached the rising wedge pattern and upward channel in the background, which is a sign that sellers are in control. My advice is to watch for selling opportunities. The downward targets are set at the price of $1,276.45 and at the price of $1,264.38.

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