Recently, Gold has been trading downwards. The price tested the level of $1.218. According to the H1 time – frame, I found ф breakout of the bearish flag pattern and the major upward trendline in the background, which is a sign that buying looks risky and that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,211.22.
Resistance levels:
R1: $1,321.85
R2: $1.240.30
R3: $1,245.35
Support levels:
S1: $1,218.35
S2: $1,213.30
S3: $1,204.85
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, Gold has been trading downwards. The price tested the level of $1.218. According to the H1 time – frame, I found ф breakout of the bearish flag pattern and the major upward trendline in the background, which is a sign that buying looks risky and that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,211.22.
Resistance levels:
R1: $1,321.85
R2: $1.240.30
R3: $1,245.35
Support levels:
S1: $1,218.35
S2: $1,213.30
S3: $1,204.85
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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