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FX.co ★ Analysis of Gold for January 28, 2019

Analysis of Gold for January 28, 2019

Analysis of Gold for January 28, 2019

Gold continues to rally as expected. Our first target at the price of $1,295.00 is reached, but there is still plenty of space for the upward movement. Since the key resistance at the price of $1,295.00 is broken and there is the upward trend, I expect that Gold will reach the median Pitchfork line in the future.

R1: $1,301.50

R2: $1,303.60

R3: $1,304.75

Pivot: $1,300.00

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S1: $1,298.24

S2: $1,297.00

S3: $1,295.00

Trading recommendation: We are long Gold from $1,285 and our SL is on the breakeven, but we added new smaller long position from $1,300.00 and a protective stop at $1,285.00. Our main target is $1,340.00.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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