Recently, the Gold has been trading upwards. As I expected, the price tested the level of $1,297.00. According to the H1 time – frame, I found a rejection of the support trendline, which is a sign that selling looks risky. My advice is to watch for a potential bullish flag and then for buying opportunities. The upward targets are set at the price of $1,310.50 and at the price of $1,316.00.
Resistance levels:
R1: $1,299.95
R2: $1,302.35
R3: $1,304.95
Support levels:
S1: $1,295.00
S2: $1,292.35
S3: $1,289.50
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the Gold has been trading upwards. As I expected, the price tested the level of $1,297.00. According to the H1 time – frame, I found a rejection of the support trendline, which is a sign that selling looks risky. My advice is to watch for a potential bullish flag and then for buying opportunities. The upward targets are set at the price of $1,310.50 and at the price of $1,316.00.
Resistance levels:
R1: $1,299.95
R2: $1,302.35
R3: $1,304.95
Support levels:
S1: $1,295.00
S2: $1,292.35
S3: $1,289.50
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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