Analysis of Gold for May 30, 2019

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Gold price has been trading downwards. The price did hit our down target from yesterday at $1.275 and did flip up, which is sign of the reversal. Gold is very strong today and you should watch for buying on the dips.

Red horizontal line – Resistance 1

Red horizontal line 2- Resistance 2

White line – Broken resistance trendline

Gold did strong test and reject from of the $1.275, which is strong sign of revesal. Bullish momentum is present and you should watch only for buying opportuntiies.As long as Gold is trading above the $1.275, we will be bullish. Resistance levels are seen at the price of $1.284 and $1.286.

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

Source:: Analysis of Gold for May, 30.2019

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