Recently, gold has been trading upwards sideways at the price of $1,203.00. According to the 15M time frame, I found bearish divergence in the Moving Average Oscilator. The price made a higher high and the oscilator made a lower high. My advice is to watch for potential selling opportunities. Downward targets are set at the price of $1,197.40 (point of control) and $1,188.25.
Resistance levels:
R1: 1,204.85
R2: 1,206.70
R3: 1,209.65
Support levels:
S1: 1,198.95
S2: 1,197.00
S3: 1,194.15
Trading recommendations for today: Bearish divergence on the oscilator. Watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com