29.01.2020
The price of gold found support at 1562.75 after falling on Tuesday due a more stable market. Despite the rebound, expect the price to resume a local growth, since the topic of coronavirus has not disappeared yet and continues to dominate the market mood.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level. Stoch are reversing in the oversold zone.
Trading recommendations:
It possible to resume buying gold if it stays above the level of 1562.75 with a likely price increase to 1585.10.
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