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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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Analysis of gold for June 22, 2017

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Recently, gold has been trading upwards. The price tested the level of $1,254.80. Anyway, according to the 30M time frame, I found buying climax in the background and broken upward channel, which is sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at $1,245.00 and $1,241.00

Resistance levels:

R1: $1,249.15

R2: $1,252.00

R3: $1,256.00

Support levels:

S1: $1,242.00

S2: $1,238.00

S3: $1,235.00

Trading recommendations for today: watch for potential selling opportunities.

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