For gold, the key levels on the scale of H1 are: 1317.09, 1311.22, 1308.28, 1304.49, 1299.37, 1295.86, 1291.63 and 1287.67. There the continuation of the upward movement is expected after the breakdown of 1304.50, in this case the first target is 1308.28, in the area 1308.28 – 1311.22 price consolidation. The break of level 1311.22 should be accompanied by a pronounced upward movement. Here the potential target is 1317.09
Short-term upward movement is possible in the area 1299.37 – 1295.86, hence there is a high probability of a turn up, breakdown of the level of 1295.86 will lead to in-depth correction. Here the target is 1291.63. This level is the key support for the medium-term upward structure of May 21.
The main trend is a local structure for the top of June 5.
Trading recommendations:
Buy: 1304.50 Take profit: 1308.25
Buy 1308.30 Take profit: 1311.20
Sell: 1299.30 Take profit: 1296.00
Sell: 1295.50 Take profit: 1292.00
The material has been provided by InstaForex Company – www.instaforex.com
Forecast for June 15:
Analytical review on the scale of H1:
For gold, the key levels on the scale of H1 are: 1317.09, 1311.22, 1308.28, 1304.49, 1299.37, 1295.86, 1291.63 and 1287.67. There the continuation of the upward movement is expected after the breakdown of 1304.50, in this case the first target is 1308.28, in the area 1308.28 – 1311.22 price consolidation. The break of level 1311.22 should be accompanied by a pronounced upward movement. Here the potential target is 1317.09
Short-term upward movement is possible in the area 1299.37 – 1295.86, hence there is a high probability of a turn up, breakdown of the level of 1295.86 will lead to in-depth correction. Here the target is 1291.63. This level is the key support for the medium-term upward structure of May 21.
The main trend is a local structure for the top of June 5.
Trading recommendations:
Buy: 1304.50 Take profit: 1308.25
Buy 1308.30 Take profit: 1311.20
Sell: 1299.30 Take profit: 1296.00
Sell: 1295.50 Take profit: 1292.00
The material has been provided by InstaForex Company – www.instaforex.com
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