FX.co ★ Gold 01.20.2020 - Decision pivot level at the price of $1.562 is on the test, watch carefuly price action around it

Gold has been trading sideways at the price of $1.560. My analysis from last week is still valid. The price is at 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 that slow line turned bearish but the reading is still above the zero.

Major resistance is set at the price of $1.562.