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GOLD Spot technical analysis 14.02.2020

Gold has reached a local maximum of 1577.00 and may turn down if the dollar receives support today amid the publication of statistics from the US economic data and the growing demand for risk assets.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is above the 50% level and moves horizontally. Stoch tests the level of 50%, steadily declining.

Trading recommendations:

Sell gold after the price crosses the 1572.70 with the probable target of 1563.00.

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