Analysis of Gold for November 15, 2017


Recently, the Gold has been trading upwards. The price tested the level of $1,285.00. According to the 15M time – frame, I found that price is trading above the pivot level ($1,277.94), which is sign that selling looks risky. I also found broken yesterday's high at the price of $1,283.50, which is another sign that buyers are in control. My advice is to watch for potential buying opportunties. Upward targets are set at the price of $1,291.10 (pivot resistance 1) and at the price of $1,298.90 (pivot resistance 2).

Resistance levels:

R1: $1,285.85

R2: $1,291.50

R3: $1,298.95

Support levels:

S1: $1,272.24

S2: $1,264.34

S3: $1,258.65

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -