Recently, gold has been trading downwards. The price tested the level of $1,336.00. According to the 30M time frame, I found that the price is trading in the downward channel, which is a sign that sellers are in control. I also found a broken bearish pennant in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,330.00.
Resistance levels:
R1: $1,350.07
R2: $1,353.52
R3: $1,355.65
Support levels:
S1: $1,344.49
S2: $1,342.35
S3: $1,338.91
Trading recommendations for today: watch for potential selling opportunities.
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