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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Analysis of gold for January 12, 2018

analytics5a58a56a315d2.png

Recently, gold has been trading upwards. The price tested the level of $1,333.15. According to the 4H time frame, I found a broken 7-day rectangle, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward projcted targets for the rectangle pattern are set at $1,341.00 and $1,348.00.

Resistance levels:

R1: $1,326.15

R2: $1,329.50

R3: $1,334.60

Support levels:

S1: $1,317.40

S2: $1,312.50

S3: $1,308.90

Trading recommendations for today: watch for potential buying opportunities.

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