Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,248.84. The price is heading higher since the breakout of a flat base in the background. My advice is to watch for buying opportunities. The upward target is set at the price of $1,264.50 (Fibonacci retracement 61.8%).
Resistance levels:
R1: $1,238.65
R2: $1,240.80
R3: $1,244.00
Support levels:
S1: $1,231.70
S2: $1,229.50
S3: $1,226.00
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 trading upwards. As I expected, the price tested the level of $1,248.84. The price is heading higher since the breakout of a flat base in the background. My advice is to watch for buying opportunities. The upward target is set at the price of $1,264.50 (Fibonacci retracement 61.8%).
Resistance levels:
R1: $1,238.65
R2: $1,240.80
R3: $1,244.00
Support levels:
S1: $1,231.70
S2: $1,229.50
S3: $1,226.00
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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