Recently, Gold has been trading sideways at the price of $1,319.00. According to the 30M time – frame, I found a successful rejection of resistance at the prrice of $1,325.00, which is a sign that buying looks risky. I also found a bearish flag in creation and my advice is to watch for potential selling opportunities. The projected downward target is set at the price of $1308.00.
Resistance levels:
R1: $1.328.00
R2: $1,338.00
R3: $1,347.50
Support levels:
S1: $1,308.00
S2: $1,299.45
S3: $1,289.35
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com