Gold 01.14.2020 – Sell zone on the Gold, downward target is set at the price of $1.536

Gold has been trading upwards but it found strong resistance at the price of $1.545. My advice is to watch for selling opportunities with the downward targets at the price of $1.535 and $1.531.

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Gold is still trading in the bearish trend and most recently I found rejection of the middle Bollinger band, which is sign that there is more downside yet to come.

MACD oscillator is showing neutral stance and slow is trying to turn bearish.

Major resistance level is set at the price of $1.545

Support levels and downward targets are set at the price of $1.536 and $1.531.

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