Recently, Gold has been trading sideways at the price of $1,244.00. According to the 4H time frame, I found a diamond formation in creation. Currently the price is testing the upward trendline and my advice is to watch for buying opportuntiies. The first upward target is set at the price of $1,250.00.
Resistance levels:
R1: $1,247.50
R2: $1,251.00
R3: $1,253.00
Support levels:
S1: $1,242.30
S2: $1,240.00
S3: $1,237.00
Trading recommendations for today: consider potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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