Analysis of Gold for November 09, 2017


Recently, the Gold has been trading upwards. The price tested the level of $1,288.70. According to the 15M time – frame, I found doji candles at the pivot resistance ($1,287.35), which is sign that buying looks risky. I also found overbought stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportuntiies.

Resistance levels:

R1: $1,287.40

R2: $1,293.40

R3: $1,299.55

Support levels:

S1: $1,275.24

S2: $1,269.10

S3: $1,263.10

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -