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FX.co ★ Gold analysis for September 26, 2016

Gold analysis for September 26, 2016

Gold analysis for September 26, 2016

Since our previous analysis, gold has been trading sideways at the price of $1,336.50. The breakout of an upward trend line is still active and my advice is to watch for selling opportunities. I found the supply trend line and lower swing highs, which is a sign of weakness. Using the market profile, I found a neutral day. Watch for selling opportunities. Target levels are set at the price of $1,332.75, $1,326.50, and $1,320.00.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,342.70

R2: 1,343.20

R3: 1,344.00

Support levels:

S1: 1,341.00

S2: 1,340.45

S3: 1,339.60

Trading recommendations for today: A strong sign of weakness in the background and broken upward trend line. Watch for potential selling opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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