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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Analysis of Gold for August 02, 2018

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Recently, the Gold has been trading downwards. The price tested the level of $1,215.40. Anyway, according to the M30 time frame, I found a potential end of the downward movement. The price stopped exactly at the yesterday's level of $1,215.40, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,218.43 and at the price of $1,221.50.

Resistance levels:

R1: $1,221.50

R2: $1,227.45

R3: $1,230.50

Support levels:

S1: $1,212.49

S2: $1,209.45

S3: $1,203.50

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com