Analysis of Gold for January 09, 2019

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Recently, the Gold has been trading sideways at the price of $1,280.00. According to the H4 time frame, I have found a breakout of the upward trendline, which is a sign that sellers are in control. I also found that buyers are exhausted and there is a hidden bearish divergence on the RSI oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of $1,270 and at the price of $1,250.00.

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