Recently, gold has been trading downwards. The price tested the level of $1,210.94. According to the 15M time frame, I found a hidden unconfirmed bullish divergence in the background. My advice is to watch for potential buying opportunities. Anyway, to confirm bullish divergence the price needs to go above $1,218.00. The price traded above top of bolinger band, which is good sign for potential upward movement. Major intraday upward target is set at the price of $1,224.00.
R1: 1,222.40
R2: 1,226.60
R3: 1,231.90
Support levels:
S1: 1,210.75
S2: 1,207.15
S3: 1,201.30
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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