Analysis of Gold for June 26, 2017

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Recently, Gold has been trading downwards. The price tested the level of $1,236.00 in an ultra high volume. According to the 15M time frame, I found a big selling climax in an ultra high volume, which is a sign that selling looks risky. The bar closed in the middle, which is a strong sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $1,253.70.

Resistance levels:

R1: $1,258.80

R2: $1,259.60

R3: $1,260.00

Support levels:

S1: $1,257.80

S2: $1,257.35

S3: $1,256.75

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com