Recently, Gold has been trading downwards. The price tested the level of $1,244. Anyway, according to the 30M time- frame, I found that price is trading inside of a trading range between the price of $1,252.30 (resistance) and the price of $1,244.00 (support). Since the short-term trend is bearish, my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,244.00 and at the price of $1,239.70
Resistance levels:
R1: $1,252.37
R2: $1,256.57
R3: $1,260.77
Support levels:
S1: $1,243.97
S2: $1,239.77
S3: $1,235.57
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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