Analysis of Gold for June 11, 2018

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Recently, Gold has been trading sideways at the price of $1,295.70. According to the H1 time – frame, I found a broken support trendline inside of the potential bearish flag. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,292.30 and at the price of $1,285.30.

Resistance levels:

R1: $1,304.15

R2: $1,305.13

R3: $1,306.05

Support levels:

S1: $1,302.25

S2: $1,301.35

S3: $1,300.36

Trading recommendations for today: watch for potential selling opportunities.

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