FX.co ★ Analysis of Gold for January 07, 2019

Recently, Gold has been trading sideways at the price of $1,290.00. According to the H1 time – frame, I have found that price breached the Keltner's lower band, which is a sign that there is potential for a change in trend behavior from bullish to bearish. I also found a potential bearish flag in creation and a hidden bearish divergence on the LBR oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of $1,276.40 and at the price of $1,264.55.