Analysis of Gold for July 02, 2018

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Recently, Gold has been trading downwards. The price tested the level of $1,245.50. According to the H1 time frame, I found a broken bearish flag pattern, which is a sign that sellers are in control. The trend is bearish and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,236.00 and at the price of $1,228.00.

Resistance levels: R1: $1,255.50R2: $1,257.00R3: $1,258.50

Support levels: S1: $1,253.40S2: $1,251.80S3: $1,250.70

Trading recommendations for today: watch for potential selling opportunities.

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