Fractal analysis: GOLD on June 12

Forecast for June 12:

Analytical review on the scale of H1:


For gold, the key levels in H1 scale are: 1317.09, 1308.97, 1305.28, 1300.97, 1287.67 and 1281.60. There the continuation of the movement upwards is expected after a breakout 1300.97, in this case the first target - 1305.28, in the area of 1305.28 - 1308.97 price consolidation. Break of level 1308.97 should be accompanied by a pronounced upward movement, here the potential target is 1317.09.

The level 1291.63 is a key support for the local upward structure from June 5, its breakdown will have to the development of the downward movement, in this case, the goal is 1287.67, near this level of consolidation. The potential value for the bottom is still the level of 1281.60.

The main trend - local structure for the top of June 5.

Trading recommendations:

Buy: 1301.00 Take profit: 1305.00

Buy 1305.30 Take profit: 1308.90

Sell: 1291.30 Take profit: 1288.00

Sell: 1287.20 Take profit: 1281.60

The material has been provided by InstaForex Company -