Recently, the Gold has been trading upwards. The price tested the level of $1,336.97. Anyway, according to the 30M time - frame, I found that price has broke the upward trednline, which is sign that buying looks risky. I also found a successful rejection of pivot resistance 2 at the prrice of $1,336.80. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,327.30, $1,323.75 and at the price of $1,318.10.
Resistance levels:
R1: $1,333.08
R2: $1.336.80
R3: $1,342.53
Support levels:
S1: $1,323.75
S2: $1,318.10
S3: $1,314.20
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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