Recently, Gold has been extending losses. The price tested the level of $1,220.91. Anyway, according to the Daily time frame, I found a successful test of the previous swing low and a gap filled, which is a sign that selling looks risky. Also, the RSI looks oversold and my advice is to watch for potential buying opportunities. The first upward target is set at the price of $1,255.00.
Resistance levels:
R1: $1,235.90
R2: $1,238.70
R3: $1,243.30
Support levels:
S1: $1,226.00
S2: $1,223.00
S3: $1,219.00
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, Gold has been extending losses. The price tested the level of $1,220.91. Anyway, according to the Daily time frame, I found a successful test of the previous swing low and a gap filled, which is a sign that selling looks risky. Also, the RSI looks oversold and my advice is to watch for potential buying opportunities. The first upward target is set at the price of $1,255.00.
Resistance levels:
R1: $1,235.90
R2: $1,238.70
R3: $1,243.30
Support levels:
S1: $1,226.00
S2: $1,223.00
S3: $1,219.00
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: