Recently, the Gold has been trading downwards. As I expected, the price tested the level of $1,342.20 (resistance became strong support). Since the Gold is still in upward trend and there is a successful rejection of strong support in the background, my advice is to watch for potential buying opportunities. The upward target is set at the price of $1,365.55 (yesterday's high).
Resistance levels:
R1: $1,362.07
R2: $1.375.87
R3: $1,385.67
Support levels:
S1: $1,338.47
S2: $1,328.67
S3: $1,314.87
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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