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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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