Recently, gold has been trading upwards. The price tested the level of $1,333.15. According to the 4H time frame, I found a broken 7-day rectangle, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward projcted targets for the rectangle pattern are set at $1,341.00 and $1,348.00.
Resistance levels:
R1: $1,326.15
R2: $1,329.50
R3: $1,334.60
Support levels:
S1: $1,317.40
S2: $1,312.50
S3: $1,308.90
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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