Analysis of Gold for April 24, 2018

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Recently, the Gold has been trading downwards. As I expected, the price tested the level of $1,321.90. According to the H1 time – frame, I found a potential end of a bullish corrective phase, which is a sign that buying looks risky. The trend is still bearish and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,319.45 and at the price of $1,305.20.

Resistance levels:

R1: $1,332.77

R2: $1,340.82

R3: $1,346.15

Support levels:

S1: $1,319.40

S2: $1,314.08

S3: $1,306.04

Trading recommendations for today: watch for potential selling opportunities.

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