Recently, Gold has been trading downwards. The price tested the level of $1,288.00. According to the 30M time frame, I found that price did break yesterday's low at the level of $1,295.00, which is a sign that sellers are in control. Another sign of weakness is very weak reaction from buyers after a breakout of yesterday's low. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,280.00 and $1,268.00.
Resistance levels:
R1: $1,324.00
R2: $1,322.20
R3: $1,344.60
Support levels:
S1: $1,304.00
S2: $1,291.60
S3: $1,283.70
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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