Recently, the Gold has been trading downwards. The price tested the level of $1,215.40. Anyway, according to the M30 time frame, I found a potential end of the downward movement. The price stopped exactly at the yesterday's level of $1,215.40, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,218.43 and at the price of $1,221.50.
Resistance levels:
R1: $1,221.50
R2: $1,227.45
R3: $1,230.50
Support levels:
S1: $1,212.49
S2: $1,209.45
S3: $1,203.50
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com