Recently, the Gold has been trading downwards. The price tested the level of $1,265.50. According to the 4H time frame, I found hidden bearish divergence and broken trendlines in the background, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The first downward target is set at the price of $1,260.00.
Resistance levels:
R1: $1,280.00
R2: $1,283.15
R3: $1,288.50
Support levels:
S1: $1,269.00
S2: $1,265.15
S3: $1,260.15
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the Gold has been trading downwards. The price tested the level of $1,265.50. According to the 4H time frame, I found hidden bearish divergence and broken trendlines in the background, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The first downward target is set at the price of $1,260.00.
Resistance levels:
R1: $1,280.00
R2: $1,283.15
R3: $1,288.50
Support levels:
S1: $1,269.00
S2: $1,265.15
S3: $1,260.15
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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