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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Gold analysis for May 25, 2016

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Since our previous analysis, gold has been trading downward. As I expected, the price tested the level of $1,220.35 in a high volume. According to the 15M time frame, I found strong downward momentum and a few up-thrust bars (supply overcame demand). I also found resistance cluster at the price of $1,222.60, which was held successfully. Buying gold at this stage looks very risky. Both targets from the previous forecast were met. The next downward target is set at the price of $1,211.00.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,236.00

R2: 1,240.00

R3: 1,246.50

Support levels:

S1: 1,223.10

S2: 1,219.00

S3: 1,212.50

Trading recommendations for today: Strong downward momentum is in the market. Be careful when buying and watch for selling opportunities on pullbacks.

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