Recently, the Gold has been trading upwards. The price tested the level of $1,285.00. According to the 15M time – frame, I found that price is trading above the pivot level ($1,277.94), which is sign that selling looks risky. I also found broken yesterday's high at the price of $1,283.50, which is another sign that buyers are in control. My advice is to watch for potential buying opportunties. Upward targets are set at the price of $1,291.10 (pivot resistance 1) and at the price of $1,298.90 (pivot resistance 2).
Resistance levels:
R1: $1,285.85
R2: $1,291.50
R3: $1,298.95
Support levels:
S1: $1,272.24
S2: $1,264.34
S3: $1,258.65
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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