FX.co ★ Gold 01.17.2020 - Decision pivot level on the Gold at the price of $1.562

Gold has been trading sideways at the price of $1.557. The price is near the critical decision level at $1.562 and you should watch carefully the price action around it.

The breakout of the $1.562 to the upside will confirm test of $1.557 and in that case you should watch on buying opportunities on the dips.

The rejection of the resistance at $1.562 would confirm rotation back towards the level of $1.535.

MACD oscillator is showing positive reading but the slow line is tuned to the downside.

Major resistance is set at the price of $1.562.

Support levels and downward target is set at the price of $1.535.