Recently, Gold has been trading downwards. The price tested the level $1,257.31. According to the H1 time – frame, I found strong selling pressure and a breakout of the support at the price of $1,262.50, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,250.40, $1,26.25 and at the price of $1,236.25.
Recently, Gold has been trading downwards. The price tested the level $1,257.31. According to the H1 time – frame, I found strong selling pressure and a breakout of the support at the price of $1,262.50, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,250.40, $1,26.25 and at the price of $1,236.25.
Resistance levels: R1: $1,272.65R2: $1,277.75R3: $1,281.05
Support levels: S1: $1,264.25S2: $1,260.90S3: $1,255.85
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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