Recently, gold has been trading upwards. The price tested the level of $1,219.15. In the 4H time frame and using the Ichimoku cloud, I found that there is potential re-continuation of the upward trend. I found cross Tenkan sen-Kijun sen which is a sign for potential strength. According to the 1H time frame, I found that price is trading above Ichimoku cloud and that gold may go higher. Pay atention to the level of $1,219.50. If the price breaks the level of $1,219.50, Gold may test the level of $1,233.00. Watch for buying opportunities. The first target is set at the price of $1,219.15 and the second target is at $1,233.00.
Resistance levels:
R1: 1,215.75
R2: 1,217.30
R3: 1,219.75
Support levels:
S1: 1,210.80
S2: 1,209.30
S3: 1,206.80
Trading recommendations for today: Watch for buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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