Analysis of Gold for April 06, 2018

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Recently, Gold has been downwards. The price tested the level of $1,319.50. According to the 15M time – frame, I found that sellers are in control and that buying looks risky. I also found a potential third wave is building and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,308.60 and at the price of $1,293.85.

Resistance levels:

R1: $1,333.38

R2: $1,340.21

R3: $1,345.52

Support levels:

S1: $1,321.25

S2: $1,315.93

S3: $1,309.10

Trading recommendations for today: watch for potential selling opportunities.

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