Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,306.19 and reached my first yesterday’s target. According to the H1 time – frame, I still expect higher price. I found a bullish flag in creation, which is sign that sellers are still weak and that buyers may continue with upward momentum. My advice is to watch for potential breakout of flag to confirm further upward continuation. The upward target is set at the price of $1,310.70.
Resistance levels:
R1: $1,309.35
R2: $1,314.20
R3: $1,323.45
Support levels:
S1: $1,295.25
S2: $1,286.70
S3: $1,281.15
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,306.19 and reached my first yesterday’s target. According to the H1 time – frame, I still expect higher price. I found a bullish flag in creation, which is sign that sellers are still weak and that buyers may continue with upward momentum. My advice is to watch for potential breakout of flag to confirm further upward continuation. The upward target is set at the price of $1,310.70.
Resistance levels:
R1: $1,309.35
R2: $1,314.20
R3: $1,323.45
Support levels:
S1: $1,295.25
S2: $1,286.70
S3: $1,281.15
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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