Recently, the Gold has been trading upwards. The price tested the level of $1,288.70. According to the 15M time – frame, I found doji candles at the pivot resistance ($1,287.35), which is sign that buying looks risky. I also found overbought stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportuntiies.
Resistance levels:
R1: $1,287.40
R2: $1,293.40
R3: $1,299.55
Support levels:
S1: $1,275.24
S2: $1,269.10
S3: $1,263.10
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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