Analysis of Gold for January 14, 2019

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Recently, the Gold has been trading sideways at the price of $1,295.00. Anyway, according to the H4 time frame, I have found that there is a potential end of the contracting flat correction, which is a sign that Gold may resume the upward trend very soon. I have also found that there is the positive reading on the LBR oscillator, which is another sign that buyers are in control. My advice is to watch for buying opportunities if you see the breakout of the supply trendline. The projected upward target is set at the price of $1,316.00.

The material has been provided by InstaForex Company - www.instaforex.com