Analysis of Gold for June 20, 2018

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Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,269.00. According to the H1 time - frame, I found a broken bearish flag pattern and completed (abc) upward correction in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,263.35 and at the price of $1,250.15.

Resistance levels: R1: $1,277.25R2: $1,279.20 R3: $1,279.90

Support levels: S1: $1,274.55S2: $1,273.50S3: $1,271.85

Trading recommendations for today: watch for potential selling opportunities.

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